Hassan Abdalla, Governor of CBE, led Egypt’s delegation at the 2025 G20 Finance Ministers meeting in South Africa. The sessions targeted economic cooperation, sustainable finance, and tax reforms. Key discussions involved leveraging technology for payment systems, enhancing Public-Private Partnerships, and ensuring financial stability through coordinated international efforts.
Hassan Abdalla, the Governor of the Central Bank of Egypt (CBE), led the Egyptian delegation at the initial 2025 G20 Finance Ministers and Central Bank Governors meeting, held in South Africa. Key members included Rami Abulnaga, Deputy Governor of the CBE for Monetary Stability, and Yasser Sobhi, Vice Minister of Finance for Fiscal Policies.
The two-day session centered on South Africa’s priorities as the G20 president and its long-term vision for 2025, aiming to enhance economic cooperation to overcome growth challenges and optimize global opportunities. Discussions encompassed the evolution of the international financial architecture, pressing financial sector matters, and the promotion of sustainable finance.
In his remarks, Abdalla emphasized that the G20 forum serves as a vital platform for addressing global economic issues and sharing expertise while proposing innovative financing strategies to drive development. He highlighted the essential role of Multilateral Development Institutions in achieving these objectives.
He affirmed that the G20 could initiate dialogues with Credit Rating Agencies on the methodologies used by Multilateral Development Institutions. Abdalla also pointed out the necessity of utilizing technological innovations to improve cross-border payment processes, prioritizing data privacy and security.
On sustainable finance, Abdalla stressed the importance of fostering Public-Private Partnerships and broadening access to sustainable financing instruments, such as green bonds. He advocated for robust risk-sharing strategies, including blended finance and credit guarantees, to mitigate financial risks associated with climate change.
Vice Minister of Finance Yasser Sobhi echoed these sentiments, advocating for a balanced, gradual approach to tax reforms that bolster economic growth while controlling inflation to maintain financial stability. He underscored the role of digitalization in improving tax policy efficiency and compliance. Sobhi also called for more equitable international taxation systems that ensure fair financial inflows consistent with each country’s development goals.
During the G20 meetings, Deputy Governor Rami Abulnaga participated in the Second G20 Finance and Central Bank Deputies Meeting, discussing operational procedures for the G20 Finance Track workstreams. He also attended the First BRICS Finance and Central Bank Deputies Meeting, which addressed priorities set under the Brazilian Presidency of BRICS concerning central banking.
Egypt’s involvement in the 2025 G20 meetings, invited by South Africa, follows South Africa’s G20 presidency starting December 2024 and lasting until November 2025 under the theme “Solidarity, Equality, Sustainability.” This marks Egypt’s fifth participatory year in the G20 and its third consecutive attendance.
Egypt’s participation in the G20 showcase its commitment to engaging in global economic discussions, focusing on sustainable finance, tax reforms, and innovative solutions to address financial sector challenges. With prominent representatives from the CBE and the Ministry of Finance, the delegation emphasized the importance of collaboration with Multilateral Development Institutions and Credit Rating Agencies to support economic stability and growth. These efforts align with the broader objectives of enhancing equitable financial systems and promoting sustainable development under South Africa’s G20 presidency.
Original Source: www.dailynewsegypt.com
