Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's investment authority GAFI hosts forum with China to link business, innovation leaders    CBE governor meets Beijing delegation to discuss economic, financial cooperation    Egypt's Gypto Pharma, US Dawa Pharmaceuticals sign strategic alliance    Egypt to unveil 'national economic development narrative' in June, focused on key economic targets    Egypt's Foreign Minister calls new Somali counterpart, reaffirms support    Italy's consumer, business confidence decline in April '25    "5,000 Years of Civilizational Dialogue" theme for Korea-Egypt 30th anniversary event    Egypt's Al-Sisi, Angola's Lourenço discuss ties, African security in Cairo talks    Two new recycling projects launched in Egypt with EGP 1.7bn investment    Egypt's ambassador to Palestine congratulates Al-Sheikh on new senior state role    Egypt's TMG eyes $17bn sales from potential major Iraq project    Egypt's Health Min. discusses childhood cancer initiative with WHO    Egypt pleads before ICJ over Israel's obligations in occupied Palestine    Asia-Pacific stocks rise on Wall Street cues    Egypt's EDA discusses local pharmaceutical manufacturing with Bayer    Sudan conflict, bilateral ties dominate talks between Al-Sisi, Al-Burhan in Cairo    Egypt expresses condolences to Canada over Vancouver incident    Cairo's Madinaty and Katameya Dunes Golf Courses set to host 2025 Pan Arab Golf Championship from May 7-10    Egypt's Health Min. strengthens healthcare ties with Bayer    Egypt's Ministry of Health launches trachoma elimination campaign in 7 governorates    EHA explores strategic partnership with Türkiye's Modest Group    Between Women Filmmakers' Caravan opens 5th round of Film Consultancy Programme for Arab filmmakers    Fourth Cairo Photo Week set for May, expanding across 14 Downtown locations    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Ancient military commander's tomb unearthed in Ismailia    Egypt's FM inspects Julius Nyerere Dam project in Tanzania    Egypt's FM praises ties with Tanzania    Egypt to host global celebration for Grand Egyptian Museum opening on July 3    Ancient Egyptian royal tomb unearthed in Sohag    Egypt hosts World Aquatics Open Water Swimming World Cup in Somabay for 3rd consecutive year    Egyptian Minister praises Nile Basin consultations, voices GERD concerns    49th Hassan II Trophy and 28th Lalla Meryem Cup Officially Launched in Morocco    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Paris Olympics opening draws record viewers    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CBE governor participates in second G20 FMCBG meeting
Published in Daily News Egypt on 26 - 04 - 2025

Hassan Abdalla, Governor of the Central Bank of Egypt (CBE), participated in the second meeting of the G20 Finance Ministers and Central Bank Governors (FMCBG), held on 23–24 April 2025. The meeting took place on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group, running from 21 to 26 April in Washington, D.C.
The Egyptian delegation to the G20 financial track included Ahmed Kouchouk, Minister of Finance; Rami Aboulnaga, CBE Deputy Governor for Monetary Stability; and Yasser Sobhi, Deputy Minister of Finance for Fiscal Policies.
During the meetings, Abdalla addressed a range of pressing issues impacting emerging markets, including the risks posed by trade wars, disruptions to supply chains, declining foreign direct investment, heightened exchange rate volatility, and the global economic slowdown. He called for enhanced coordination and consensus among policymakers to mitigate these challenges and their negative effects.
The CBE Governor also highlighted key obstacles to development across Africa, particularly weak infrastructure, macroeconomic instability, and the high cost of capital.
Abdalla recommended mitigating the impact of global trade fragmentation on Africa by capitalising on the African Continental Free Trade Area (AfCFTA). He stressed the importance of increasing the number of bankable projects to attract greater private investment into the continent.
In addition, Abdalla underscored the need to strengthen the lending capacity of multilateral development institutions through innovative initiatives such as blended finance and the redirection of Special Drawing Rights (SDRs). He also highlighted the necessity of mobilising private capital at a larger scale, suggesting enhanced risk guarantees and the promotion of robust public-private partnerships.
It is worth noting that Egypt is participating in the G20 meetings as an invited country for the fifth time since the group's inception and for the third consecutive year. Egypt took part in the 2023 meetings under India's presidency and the 2024 meetings chaired by Brazil. Egypt is currently participating under the presidency of South Africa, which assumed the G20 chair on 1 December 2024 and will serve through November 2025.


Clic here to read the story from its source.