Atef Ebeid

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Atef Ebeid

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Dr. Atef Muhammad Ebeid (Arabic: عاطف محمد عبيد) (born 14 April 1932) was the Prime Minister of Egypt from October 1999 to July 2004. President Hosni Mubarak invited him to form the new government after the parliamentary elections in 1999. Dr. Ebeid was sworn on October 5, 1999, replacing Kamal Ganzouri.

He served as the Minister for Domestic Development under the Sedki Government and then Minister of Planning in the Ganzouri Government. Prior to that he was a Professor of Business at Cairo University.

During his tenure as prime minister, economic growth in Egypt slowed and the cost of living soared. He is only credited for managing to transfer Egypt from a static economy to a more capitalist system within a few years.^{[citation needed]}

Ebeid served as the Acting President of the Republic from 20 June 2004 to 6 July 2004, a period during which President Hosni Mubarak was receiving medical treatment in Germany. This appointment sparked sharp criticism by certain political groups.

He resigned on 9 July 2004 amid increasing pressure from parliament and the populace. Prime Minister Ahmed Nazif replaced him.

He currently heads the Arab International Bank, a popular post with former Egyptian Prime Ministers and is rumored to receive an 8 million Egyptian pound paycheck.