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State TV: Egypt's central bank governor has resigned

By: The Associated Press

Posted: 12/22/2012 1:12 PM | Comments: 0

CAIRO - State television says Egypt's central bank governor has resigned.

Farouq el-Oqdah's resignation is the second such high profile move on Saturday. Earlier on the day, Vice-President Mahmoud Mekki resigned, saying he realized that politics did not suit his professional background as a judge.

The brief TV report did not say why el-Oqdah quit, but it ends days of media speculations about his intentions. Islamist President Mohammed Morsi and his Prime Minister Hesham Kandil met with 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 U.S. dollar and the postponement of a deal with the IMF for a much needed loan of $4.8 billion.

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