November 25, 2019 / 1:47 PM / 19 days ago

UPDATE 1-Egypt's central bank governor appointed for second term -state media

(Recasts with state media confirmation)

CAIRO, Nov 25 (Reuters) - Egypt’s central bank governor Tarek Amer has been appointed to a second four-year term, state media reported on Monday.

State-run newspaper Al Ahram cited an unnamed deputy central bank governor as confirming Amer’s reappointment. Akhbar Elyom, another state-run paper, also confirmed the news, citing unnamed banking sources.

Amer, whose term ends this week, was appointed in 2015 when Egypt was in a currency crisis. He helped oversee a three-year, IMF-backed reform programme which included a sharp devaluation of the pound currency, the introduction of a value-added tax and the elimination of subsidies on most fuel prices.

Writing by Aidan Lewis and Yousef Saba; Editing by Catherine Evans

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