Egypt’s PM, CBE governor discuss economic reforms

Egypt’s Prime Minister Moustafa Madbouly met on Sunday with Central Bank Governor Hassan Abdalla to discuss priority economic issues and efforts to strengthen financial and monetary stability.

The meeting covered preparations for the National Economic Transformation Programme, as well as efforts to reduce inflation and increase dollar inflows.

Madbouly and Abdalla also stressed the importance of maintaining safe foreign exchange reserve levels to secure strategic commodity needs and strengthening strategic stocks through continued government-Central Bank coordination.

Abdalla also briefed Madbouly on his participation in the AACB’s 48th annual meetings in Nairobi from September 13 to 18, which brought together governors of 34 central banks representing 53 African countries.

He also participated in the 14th Meeting of the Governing Council of the Pan-African Payment and Settlement System (PGC PAPSS) in Nairobi on the sidelines of the AACB and a conference on artificial intelligence (AI) applications in central banking practices.

Discussions at the AI conference covered the use of AI in monetary policy and financial stability, banking supervision, financial integrity, AI governance, risk management, data analysis, and economic forecasting.