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Conflicting reports of Egypt's central bank governor status

By Arkansas Democrat-Gazette Staff and Wire Reports

This article was originally published December 22, 2012 at 12:55 p.m. Updated December 22, 2012 at 4:20 p.m.

— State television reported early Saturday that Egypt's central bank governor resigned, but the Cabinet later denied the report.

State TV reported the resignation of Central Bank Governor Farouq el-Oqdah. But then it carried a denial by the Cabinet that he had stepped down.

No explanation was given for the conflicting reports, which come after several days of media report that the administration was trying to convince el-Oqdah not to quit his post, at a time when Egypt's pound has been losing value and a crucial deal for a much needed IMF loan of $4.8 billion has been postponed.

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