Egypt's central bank governor, VP both quit their posts
Egyptian President Mohammed Morsi swears in newly-appointed vice president, a former senior judge, Mahmoud Mekki, in Cairo, Egypt on Sunday, Aug. 12, 2012. (AP / Egyptian Presidency)
The Associated Press
Published Saturday, December 22, 2012 11:13AM EST
Last Updated Saturday, December 22, 2012 1:57PM EST
CAIRO -- State television says Egypt's central bank governor has resigned.
Farouq el-Oqdah's resignation is the second such high profile move on Saturday. Earlier on the day, Vice President Mahmoud Mekki resigned, saying he realized that politics did not suit his professional background as a judge.
The brief TV report did not say why el-Oqdah quit, but it ends days of media speculations about his intentions. Islamist President Mohammed Morsi and his Prime Minister Hesham Kandil met with el-Oqdah earlier this week in what media reports said was an attempt to dissuade him from leaving.
His departure comes at a time when Egypt's pound has been losing value against the U.S. dollar and the postponement of a deal with the IMF for a much needed loan of $4.8 billion.