BLORD IS OUT FROM KUJE PRISON AFTER PERFECTING ALL HIS BAIL CONDITIONS.(PHOTO).

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 So Linus Williams (Blord) has been released from Kuje prison after fulfilling his bail conditions, finally, freedom after a few weeks in custody. However, here’s the current position of his case:  He is still expected to show up and stand his trial.  If he fails to appear in court even for one day, his bail can be revoked and a bench warrant may be issued against him, meaning a return to Kuje. If the prosecution cannot prove the charges against him, he will be discharged and acquitted. If the prosecution proves the charges, he may be sentenced and sent back to Kuje. I think he should seek a peaceful resolution to the case. Congrats to him on his freedom for now.
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EGYPTIAN CENTRAL BANK GOVERNOR RESIGNS. (PHOTO).

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 Cairo August 17 2022: Egyptian central bank Governor Tarek Amer resigned, a shock decision one day before an interest-rate meeting and with pressure mounting on the currency.


Amer was appointed as an adviser to President Abdel-Fattah El-Sisi, the state-run Middle East News Agency reported Wednesday. No further details were given on his resignation, and it didn’t say who would be the next governor.


Derivatives traders added to bets for a weaker pound. In the non-deliverable forwards market, the three-month contract was around 21.1 per dollar Wednesday, compared with 20.4 on Tuesday. The spot rate slipped 0.1% to 19.16 against the dollar in the offshore market.

The departure adds more uncertainty for an economy that’s under pressure from the spillover effects of Russia’s invasion of Ukraine. Amer’s drama-filled tenure included a steep currency devaluation during his first four-year stint and another in March.


Under Amer, who started his new term in January 2020, Egypt became a prime destination for hot money by keeping its currency stable and boasting the world’s highest interest rates when adjusted for inflation. Soaring consumer prices in 2022 have eroded that advantage, although a slight majority of economists surveyed before the governor’s departure expect Egypt to hike rates for the third time this year at a meeting scheduled for Thursday.

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