Eyptian central bank chief resigns

Egypt’s central bank governor has resigned, state television reported tonight.

Eyptian central bank chief resigns

Egypt’s central bank governor has resigned, state television reported tonight.

Farouq el-Oqdah’s resignation is the second such high-profile move today.

Earlier, Vice President Mahmoud Mekki resigned, saying he realised that politics did not suit his professional background as a judge.

The brief TV report did not say why Mr el-Oqdah quit, but it ends days of media speculation about his intentions.

Islamist President Mohammed Morsi and his Prime Minister, Hesham Kandil, met Mr el-Oqdah earlier this week in what media reports said was an attempt to dissuade him from leaving.

His departure comes at a time when Egypt’s pound has been losing value against the US dollar and the postponement of a deal with the IMF for a much needed loan of 4.8 billion US dollars.

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