Mehleb, CBE’s Governor Review Egypt’s Monetary Policies Today

The Current  Egyptian Prime Minister, Ibrahim Mehlab will be meeting today the governor of the Central Bank of Egypt (CBE), Hisham Ramez in order to review exchange market, Egyptian pound, monetary policies , in addition to the provision of liquidity of the foreign exchange needed to import essential goods.

Mehleb said on Sunday his interim government would work hard to fix the economy and attract more investments during the next few months, according to Anadolu Agency.

 “We will try to achieve the aspirations of the Egyptian people,” Mehleb, whose government was sworn in on Saturday, said in a televised address to the nation.

 “We will pay special attention to major projects,” he added.

 He cited a major project that is hoped to turn the Suez Canal area into an international magnet for huge shipbuilding, maintenance, industrial and logistical investments.

 The new premier said his government also has hopes to raise inhabited space in Egypt from 5.5 percent of the size of this populous country to 30 percent.

 He called for a suspension of demonstrations and sit-ins so that “Egyptians can have the time to rebuild their country.”

The new prime minister reduced to 31 the number of ministries in his government from 33 in the government of his predecessor in a bid to reduce government spending.

 Egypt’s new government has been sworn in on Saturday and Field Marshal Abdel Fattah El-Sisi has maintained his post as Defense Minister.

Interim President Adly Mansour picked Ibrahim Mehleb as the new prime minister on Tuesday and tasked him with forming a new government. Mehleb has decided to keep some of the former ministers in his new government, including Egypt’s army chief, Abdel Fattah el-Sissi, as defense minister and Muhammad Ibrahim as interior minister, according to Voice of America.

 Mehleb headed Egypt’s mammoth state-owned construction company during the rule of ousted president Hosni Mubarak and served as the housing minister in the interim cabinet that resigned on Monday.

 Mehleb vowed at a news conference to “crush terrorism in all corners” of Egypt and restore security.

 Mehleb has designated Mounir Fakhry Abdel Nour as Minister of Industry and Investment in the new government, state-owned TV said Wednesday.

Abdel Nour had been Minister of Trade & Industry in El Beblawi’s government that submitted its resignation on Monday, while Osama Saleh was the Investment Minister.