Egypt's Hisham Ramez was chosen as the Middle East and North Africa's best central bank governor during the IMF and World Bank annual meetings held in Peru from 8-11 October.

The IMF and the World Bank's choice of Ramez was based on the measures he took to put Egypt on the 'right' economic path.

Ramez was praised for devaluating the Egyptian pound to the dollar by 9.5 percent and issuing certificates of deposit to finance the expansion of the Suez Canal.

The governor also assisted the government in formulating the tax system.