Egypt joins G20 finance talks in S. Africa – Cabinet
A high-level Egyptian delegation led by Governor of the Central Bank of Egypt (CBE) Hassan Abdalla took part in the third 2025 meetings of G20 finance ministers and central bank governors, held in South Africa on July 17–18, the Cabinet has stated.
Abdalla participated in several sessions covering global macroeconomic challenges, financial system reform, sustainable finance, and development issues in Africa. He warned of persistent pressure on the global economy from escalating geopolitical tensions and trade conflicts, calling for closer coordination of fiscal and monetary policies to safeguard macroeconomic stability.
He stressed the need to anchor inflation expectations, improve liquidity management, and strengthen the resilience of macroeconomic fundamentals. Abdalla also urged reforms to the global financial architecture and greater African representation, including enhanced roles for multilateral financial institutions and mechanisms such as the reallocation of Special Drawing Rights (SDRs).
The governor raised concerns over the rapid growth of non-banking financial institutions in the absence of adequate regulatory frameworks, highlighting the need for coordinated international oversight to ensure global financial stability.
Abdalla also emphasised the importance of enhancing debt dialogue between creditor and debtor countries, credit rating agencies, and international organisations. He called for broadening the scope of the G20’s Common Framework to include middle-income countries and to introduce innovative mechanisms for debt relief and sustainability.
He further highlighted the importance of expanding concessional and blended finance options for developing countries, encouraging the use of country-led frameworks that link investment flows to national development priorities.
Abdalla called for harmonised environmental standards and effective risk-sharing instruments to address inflationary pressures, limited green finance tools, and weak flows of sustainable investment projects in many developing nations.
Abdalla underscored the need to develop local capital markets, adopt advanced technologies—particularly artificial intelligence—to boost productivity and service quality, and strengthen public-private partnerships in cross-border infrastructure projects to support regional integration.
The next G20 deputies’ meeting is scheduled for October 2025, alongside the G20 finance ministers’ fourth session, to be held on the margins of the IMF and World Bank Annual Meetings in Washington.
Attribution: Amwal Al Ghad English
Subediting: M. S. Salama