Egypt chosen chairman of North African central banks committee

Egypt was chosen chairman of the North African central banks committee during the annual meetings of African central banks association which wound up work Friday.

The meetings discussed economic and monetary cooperation between member states, and a working paper on a long-term program to be carried out over eight stages with the aim of helping the states cope with monetary and economic changes, said

Ismail Hassan, governor of the Central Bank of Egypt (CBE). The program is to be completed by 2021, he added.

African central bank governors will discuss the paper during a meeting to be held within the coming six month.

The paper falls in line with an initiative ratified by the latest African summit calling for setting up an African central bank.