IDEAS home Printed from
   My bibliography  Save this paper

Analizing the ööperformance of the monetary policy in Egypt during (1997-2003)(in Arabic)


  • Hussein A.Motlb Elasrj

    (Ministry of foreign trade-Egypt)


The purpose of this paper is to review the performance of the monetary policy in Egypt during (1997-2003).Many salient economic lows and decrees were promulgated, such as the law NO 88/2003 on the central bank of Egypt(CBE),the banking system and currency. Also the decree on liberalizing the L.E. exchange rate. In addition to reduce the discount rate and reserves ratio. The main finding after reviewing the monetary and banking policy and developments in monetary aggregate, the monetary authorities couldn't achieve all the objectives of the monetary policy. The Egyptian pound lost 81% of its value in 2003 compared with 97.As a reflection, the inflation rate become double although the decreasing in the monetary expansion. Moreover ,the net international reserves declined by 27%in the same period as a result of CBE interference in the foreign exchange market as a seller of the foreign exchange. Finally, the paper make a number of recommendations to activate the monetary policy such as, pegging the Egyptian pound to a basket of currencies, restructuring the interest rates, necessity of reducing the percent of credit provided by banks, move forward to incorporate a holding company to supervise the management of public commercial and specialized banks on behalf of government, offer more support to CBE and the Egyptian banking system.

Suggested Citation

  • Hussein A.Motlb Elasrj, 2004. "Analizing the ööperformance of the monetary policy in Egypt during (1997-2003)(in Arabic)," Macroeconomics 0409016, EconWPA.
  • Handle: RePEc:wpa:wuwpma:0409016
    Note: Type of Document - doc; pages: 23

    Download full text from publisher

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    More about this item


    monetary policy ; Egypt ; exchange rate; monetary aggregate;

    JEL classification:

    • E - Macroeconomics and Monetary Economics

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpma:0409016. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.