FinMin: Egypt calls for innovative mechanisms to address debt crisis

Egypt’s Finance Minister Ahmed Kouchouk has called on BRICS nations to play a greater role in addressing the global debt crisis through innovative mechanisms, particularly for middle-income countries, as per an official statement.

Speaking during the official session of the BRICS Finance Ministers and Central Bank Governors Meeting, Kouchouk said the bloc could help advance initiatives such as debt-for-investment swaps and other tools that support development efforts.

He stressed the importance of reinforcing global economic multilateralism to promote more inclusive and sustainable growth, noting that emerging markets have been hit hard by rising tariffs and growing global uncertainty.

Egypt, he said, seeks stronger economic cooperation with BRICS nations to help cushion the impact of global shocks. Kouchouk also highlighted the need to explore concessional finance tools to support infrastructure, renewable energy, and digital transformation projects.

He added that BRICS can play a leading role in promoting a more balanced and equitable global economic system. He urged coordinated action to uphold economic multilateralism and inclusive development.

Kouchouk further voiced Egypt’s support for strong public-private partnerships to meet development goals, and affirmed the country’s commitment to capacity building within BRICS through joint cooperation and knowledge exchange. He also pointed to the new investment platform as an innovative step to mobilise private and blended capital for strategic projects.

Attribution: Amwal Al Ghad English