Prospects for a Currency Board in the Arab Republic of Egypt

Dani Kiyasseh and David Gumino
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Dani Kiyasseh: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise
David Gumino: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 103, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: The National Bank of Egypt (NBE) was introduced in 1898. It acted as both a central and commercial bank for Egypt, and for Sudan for some time. The burgeoning Egyptian economy was thought to eventually necessitate a central bank, so in 1961, some of the assets of the NBE were taken to form the Central Bank of Egypt (CBE). Ever since, the CBE has been Egypt’s monetary authority. Its activity has come under scrutiny over the years due to its inability to cope with economic challenges, most notably inflation. This paper examines the prospects for introducing a currency board in Egypt. It compares this possibility to the existing monetary infrastructure in place and determines whether a currency board is a suitable path to take.

Keywords: National Bank of Egypt (NBE); Central Bank of Egypt (CBE); inflation; currency board (search for similar items in EconPapers)
JEL-codes: E58 N15 O23 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2018-05
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0103

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