Egypt c.bank governor Hassan Abdalla chairs plenary session of IMF-WBG board of governors
Central Bank of Egypt’s (CBE) Governor Hassan Abdalla will chair on Friday the plenary session of the International Monetary Fund (IMF) and the World Bank Group (WBG) Boards of Governors.
This is the first Boards of Governors meeting for the IMF-WBG after three years of suspension due to the repercussions of the COVID-19 pandemic outbreak.
The IMF-WBG annual meetings are taking place in Washington, D.C., between 10-16 October 2022.
According to the agendas, David Malpass, WBG president, and Kristalina Georgieva, IMF managing director, will be participating in the session chaired by the Egyptian central bank governor.
The session will be attended by more than 3,000 officials representing 189 countries, including central bank governors, ministers of finance and development, planning, and energy, in addition to parliamentarians, senior officials from the private sector, representatives of civil society organizations, and leading economic experts.
The plenary session is held amidst unprecedented global challenges in the wake of the Russian war in Ukraine and growing increases in fuel and electricity prices.
Egypt’s strong participation in this year’s meetings comes in line with its proactively pursued leadership role in the Middle East and Africa region as well as its effective contribution to all international efforts to pursue global peace and security.
The North African country has received much praise from senior officials participating in this year’s meetings, for managing monetary policy, combating inflation, social protection measures, and combating climate change.
The IMF raised projections for Egypt’s economic growth by 6.6 percent this year, despite the global challenges, including the COVID-19 pandemic, the Russian-Ukrainian War, high inflation rates, food shortages, and climate change.
The Boards of Governors comprise of one Governor and one Alternate Governor appointed by each member country. The office is usually held by the country’s finance minister, the governor of its central bank, or a senior official of similar rank.