The Egyptian delegation participating in the G20 Finance Track meetings included Ahmed Kouchouk, Minister of Finance, Rami Aboul Naga, Deputy Governor of the Central Bank of Egypt for Monetary Stability, and Yasser Sobhi, Deputy Minister of Finance for Fiscal Policy.
Abdalla discussed several issues, including the risks
facing emerging markets resulting from trade wars and the resulting disruption
of supply chains, declining foreign direct investment, increased exchange rate
volatility, and slowing global economic growth. He called for coordinated
efforts and consensus among policymakers to address these risks and minimize
their negative repercussions.
He also discussed the most important development
obstacles facing the African continent, especially with regard to weak
infrastructure, macroeconomic challenges, and the high cost of capital.
The governor recommended the need to address the
negative effects on the continent resulting from the fragmentation of
international trade by benefiting from the African Continental Free Trade Area
Agreement. He also stressed the need to increase the number of fundable
projects in Africa to attract private capital.
He also highlighted the need to increase the lending
capacity of multilateral development institutions by adopting innovative
initiatives such as blended capital and encouraging the redirection of special
drawing rights. He also emphasized the importance of mobilizing private capital
on a broader scale by providing the necessary guarantees to mitigate investment
risks and supporting 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 establishment, and the third in a row. It participated in the previous session, in 2024, under the presidency of Brazil, and in the 2023 meetings under the presidency of India. It is also participating in the current meetings, chaired by South Africa, from December 1, 2024, to November 2025.