Bloomberg News

Egypt Cabinet Denies Report that Central Bank Governor Quit

December 22, 2012

Egypt’s Cabinet denied a report on state television that central bank Governor Farouk el-Okdah had quit, hours after the country’s vice president resigned.

The Cabinet called the report “baseless” and denied that el-Okdah “has submitted his resignation this evening.” The Cabinet’s e-mailed denial was attributed to a government official who wasn’t identified by name. Calls by Bloomberg News to central bank officials and to el-Okdah’s mobile telephone weren’t answered.

El-Okdah planned to retire at the end of the year for health reasons, Al Mal newspaper reported in September, citing an interview with him in Khartoum, Sudan.

Earlier today, Vice President Mahmoud Mekki announced his resignation, citing a conflict between politics and his profession as a judge. His departure and the disputed reports of el-Okdah’s resignation came as Egyptians cast their ballots today in the final phase of a referendum on a new constitution that has sparked clashes between Islamists and secularists.

To contact the reporter on this story: Salma El Wardany in Cairo at selwardany@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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