Pimco's [profile] Mohamed El-Erian is being eyed as Egypt's next prime minister, CNBC and Bloomberg report.

An Egyptian official said that El-Erian was being "studied" as an option and was a strong contender for the post.

In an email interview with Bloomberg, El-Erian stated that he has not been approached formally, and would decline the offer for the position. He explained:

There are many more qualified candidates than me. At this critical time in Egypt's history, it is important that candidates include those who have been living in Egypt and who have participated in person in Egypt's revolutionary process.

CNBC noted that El-Erian has provided frequent commentary on post-revolution Egypt. Many observers believe that his combination of business skills and understanding of Egypt's socioeconomic situation can help improve the country's economic fortunes and strengthen stability. 

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