Egypt appoints new central bank governor

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The governor of the Central Bank of Egypt resigned yesterday (January 10), with his replacement immediately announced as Hisham Ramez, a former deputy governor who currently leads one of Egypt's biggest commercial banks.

The outgoing governor, Farouk El-Okdah, had come under increasing pressure to maintain the strength of the Egyptian pound, which has taken a battering since the government of Mohammed Morsi failed to implement new taxes that would have qualified the country for dispersal of an I

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