Email this article Prospects for a currency board in the Arab Republic of Egypt
Abstract
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.
JEL. E58, N15, O23.Keywords
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DOI: http://dx.doi.org/10.1453/jeb.v6i3.1931
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