{"id":603699,"date":"2023-08-20T00:00:00","date_gmt":"2023-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/hassan-abdalla-to-lead-the-central-bank-for-another-year\/"},"modified":"2023-08-20T00:00:00","modified_gmt":"2023-08-20T00:00:00","slug":"hassan-abdalla-to-lead-the-central-bank-for-another-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/hassan-abdalla-to-lead-the-central-bank-for-another-year\/","title":{"rendered":"Hassan Abdalla to lead the central bank for another year"},"content":{"rendered":"

Hassan Abdalla ( <\/strong>LinkedIn<\/a><\/strong> ) has been reappointed as the acting governor of the <\/strong> Central Bank of Egypt (CBE) <\/strong>for another one-year term starting 18 August under a presidential decree published in the Official Gazette. The veteran banker was first appointed to the position<\/a> in August last year following Tarek Amer\u2019s surprise resignation. <\/p>\n

A lot has changed at the CBE since Abdalla took the helm: <\/strong>In the year since Abdalla\u2019s appointment, the central bank has devalued the currency twice in response to the FX crisis and reformed its subsidized loan program<\/a>, helping the country secure vital financial assistance from the IMF. Under his leadership, the central bank has also raised interest rates by another 800 bps, as well as bumped up its reserve requirement<\/a>, to tackle rising inflation. <\/p>\n

Abdalla\u2019s position remains temporary: <\/strong>The president can appoint an interim leader, but the House of Representatives would need to approve a nominee for a full four-year term. Bloomberg<\/a> says the short-term reappointment is a source of uncertainty for investors.<\/p>\n

PLUS: Sherif Sedky <\/strong> (LinkedIn<\/a>) has been reappointed to his position as CEO <\/strong>of the Egyptian Space Agency <\/strong>under a presidential decree published in the Official Gazette. <\/p>\n","protected":false},"excerpt":{"rendered":"

Abdalla has presided over sweeping policy changes including the EGP deval<\/p>\n","protected":false},"author":1,"featured_media":603700,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7231],"tags":[271,104,11092,72,2276,206,2291],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-moves","tag-central-bank-of-egypt","tag-economy","tag-egyptian-space-agency","tag-enterpriseam","tag-hassan-abdalla","tag-moves","tag-sherif-sedky","wpautop","entry"],"acf":{"mongo_id":"943d7b1a-cbb3-4ff3-8b5c-2e15fa894b1c","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/881.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Central Bank of Egypt governor Hassan Abdalla appointed for another one-year term","related_issue":[603685],"teaser":"Abdalla has presided over sweeping policy changes including the EGP deval","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.28b05352-09b5-4d8a-a897-b68266f9346e.mp3"},"yoast_head":"\nHassan Abdalla to lead the central bank for another year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/hassan-abdalla-to-lead-the-central-bank-for-another-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hassan Abdalla to lead the central bank for another year\" \/>\n<meta property=\"og:description\" content=\"Abdalla has presided over sweeping policy changes including the EGP deval\" 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