Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), participated in the second edition of the AlUla Conference for Emerging Market Economies, organised by the Saudi Ministry of Finance in partnership with the International Monetary Fund (IMF). Abdalla explained that this shift represents a fundamental change in Egypt’s monetary policy framework, with the CBE’s role now focused on setting a robust policy framework rather than managing a specific exchange rate level. He stressed that the CBE’s role is not to push the currency up or down, but to establish a strong and resilient system that allows the exchange rate to respond to supply and demand forces. These initiatives aim to bridge gaps created by traditional macroeconomic indicators that fail to capture real-time economic conditions, accelerating decision-making and supporting more forward-looking monetary policy. Abdalla said Egypt’s net international reserves reached a historic $52.6bn in January 2026, covering 6.3 months of imports and equivalent to around 158% of short-term external debt.

Source: Daily News Egypt February 09, 2026 16:35 UTC