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Amer saved Egypt by liberalising exchange rate: Selim - Daily News Egypt

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Amer saved Egypt by liberalising exchange rate: Selim

Even with support from political leadership, if not for his bravery, decision would not have been made, asserts banking expert Banking expert Ahmed Selim believes that the most important, even historical, decision made by Tarek Amer was the liberalisation of the exchange rate, noting that the decision should have been made in the past 20 …


Even with support from political leadership, if not for his bravery, decision would not have been made, asserts banking expert

Banking expert Ahmed Selim believes that the most important, even historical, decision made by Tarek Amer was the liberalisation of the exchange rate, noting that the decision should have been made in the past 20 years, but those who were in Amer’s position were afraid to make it.

“It is true that the political leadership supported Amer in making the decision, but if it weren’t for his bravery, the decision would not have been made. For sure, without this decision, Egypt would have collapsed. Moreover, this decision made those who seek to harm Egypt miss the opportunity to do so,” Selim said.

“Amer has only one more thing left to do and I believe he now has enough elements of strength to help him make that decision. It is to reorganise the administration of some banks, despite their achievement of success,” he added.

Selim added that Amer has received many awards as the best central bank governor, but the biggest prize is his role in working for the country’s best interest.

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