IMF/World Bank’s GlobalMarkets names Tarek Amer c.bank governor of the year

GlobalMarkets, the newspaper of the IMF/World Bank Annual Meeting, has named Tarek Amer, Egypt’s central bank governor, as the Central Bank Governor of the year for Middle East and North Africa.

The newspaper explained that Amer was the ‘leading architect’ of Egypt’s $12 billion International Monetary Fund loan programme and the “driving force behind the country’s exchange rate reform.”

Egypt agreed to a three-year, $12 billion IMF loan programme in August 2016 tied to ambitious economic reforms that included austerity measures such as subsidy cuts and tax hikes. In November, Egypt received IMF’s first funding installment – an initial disbursal of $2.75 billion – following the floating of the Egyptian pound.

“You (Amer) have played a pivotal role in putting the economy on a sustainable path and restoring the confidence of international investors,” Toby Fildes, Managing Editor of GlobalMarkets newspaper, further said in a formal letter sent to the Egyptian central bank governor on Wednesday.

Amer was committed to “orthodox monetary policy, timely market communication and prudent macroprudential regulation.” Fildes further

Amer is set to receive the GlobalMarkets award in Washington on October 14.