Hassan Abdalla will stay on for another year: President Abdel Fattah El Sisi has reappointed Hassan Abdalla as the acting governor of the Central Bank of Egypt for another one-year term, according to a decree published in the Official Gazette. El Sisi met with Abdalla yesterday to discuss efforts to continue curbing inflation and strengthening the country’s FX reserves, according to an Ittihadiya statement.

Abdalla has been the governor of the central bank since he took over from Tarek Amer in 2022. The new term is set to conclude almost two weeks ahead of the scheduled completion of our USD 8 bn IMF loan program in September 2026.

What’s next on the agenda? “His priority now will be to build up additional foreign-currency buffers and tackle risks to Egypt’s current-account deficit from economic shocks that range from a plunge in Suez Canal receipts caused by Houthi attacks on Red Sea shipping to rising energy imports for the Middle East’s largest population. A resumption of interest-rate cuts is also expected, in what would be a boost for local investors and industries,” Bloomberg wrote.

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