CBE’s governor reviews repercussions of int’l crisis on Egypt’s economic conditions – Egypt Today

CBE’s governor reviews repercussions of int’l crisis on Egypt’s economic conditions – Egypt Today

CAIRO - 18 May 2022: Entitled “The Repercussions of the International Crisis and Its Impact on the Economic Conditions in the Arab Region”, the 2022 Arab Banking Conference was launched on Wednesday and will last for two days under the auspices of Tarek Amer, Governor of the Central Bank. Amer stated that the the policy adopted by the Central Bank of Egypt (CBE) succeeded in reducing the non-performing debt rates in the market to 3.5 percent by the end of December 2021, compared to 45 percent in 2003. He added during the 2022 Arab Banking Conference that the capital adequacy standard recorded 25.5 percent by the end of December 2021, compared to 14.5 percent in 2017, while the global average for the capital adequacy standard recorded 12 percent. The governor stressed during the conference, Wednesday, that the central bank’s intervention during the Coronavirus crisis by pumping liquidity from the international reserve and maintaining exchange rates kept the economy from suffering a price crisis. He noted that international reserves are not sacred, but are built for the benefit of using them in the service of the citizen, pointing out that the support of the political leadership of the Central Bank of