Distinguished Lectures

Monetary Policy in Emerging Markets: Implications for Egypt

Date : 4/5/2005

Speakers : John B. Taylor, Under Secretary for International Affairs, US Treasury

Our speaker tackled one of the most important challenges facing Egypt today: shifting to a monetary policy framework that focuses on price stability with a flexible exchange rate regime. Dr. Taylor addressed the following questions: 1- What is the optimal monetary policy framework for a country that has a floating exchange rate?2- How does fiscal policy negatively affect the central bank’s ability to implement the framework?3- How have emerging market countries performed under monetary policies that focus on price stability and what are the implications for Egypt?