CBE Governor Leads Egypt’s Delegation at G20 Meeting in South Africa

Hassan Abdalla, the Governor of the Central Bank of Egypt, led Egypt’s delegation at the G20 Finance Ministers and Central Bank Governors’ meeting in South Africa. The meeting focused on economic cooperation, sustainable finance, and innovative financial solutions. Vice Minister Yasser Sobhi emphasized balanced tax reforms, digitalization, and equitable international taxation. Abulnaga participated in related deputy meetings, reinforcing Egypt’s active role in the G20.

Hassan Abdalla, the Governor of the Central Bank of Egypt (CBE), led a delegation representing Egypt at the inaugural 2025 G20 Finance Ministers and Central Bank Governors’ meeting held in South Africa. The delegation comprised prominent figures including Rami Abulnaga, Deputy Governor for Monetary Stability, and Yasser Sobhi, Vice Minister of Finance for Fiscal Policies.

The two-day meeting centered on South Africa’s G20 presidency priorities and the long-term vision for 2025, primarily focusing on enhancing economic cooperation to overcome growth challenges and harness global opportunities. Key discussions encompassed advancements in the international financial system, pressing financial sector issues, and the principles of sustainable finance.

During the sessions, Abdalla underscored the importance of the G20 forum as a vital platform for addressing global economic and financial challenges, facilitating expertise exchange, and proposing innovative financial solutions to support development. He emphasized the pivotal role of Multilateral Development Institutions in achieving these collective objectives.

Abdalla also reiterated that the G20 can serve as an avenue for dialogues with Credit Rating Agencies concerning the evaluation methodologies of Multilateral Development Institutions. Furthermore, he highlighted the significance of leveraging technological advancements to enhance the efficiency of cross-border payment settlements while safeguarding data privacy and security.

In the context of sustainable finance, Abdalla called for the promotion of Public-Private Partnerships and broadened access to sustainable financing mechanisms, including green bonds. He advocated for stronger risk-sharing strategies, such as blending finance and providing credit guarantees, to alleviate climate-associated financial risks.

Vice Minister of Finance Yasser Sobhi supported these initiatives by emphasizing a measured approach to tax reforms that fosters economic growth while controlling inflationary pressures, thus ensuring financial stability. He also acknowledged the role of digitalization in improving tax policy efficiency and compliance and urged concerted efforts towards establishing a fair international taxation system that aligns with each country’s developmental needs.

In conjunction with the G20 meetings, Rami Abulnaga attended the Second G20 Finance and Central Bank Deputies Meeting, which focused on assessing the operational procedures of G20 Finance Track workstreams. He also participated in the First BRICS Finance and Central Bank Deputies Meeting, discussing priorities set by the Brazilian Presidency of BRICS, specifically concerning central banking matters.

Egypt’s involvement in the 2025 G20 meetings was facilitated by an invitation from South Africa, which holds the G20 presidency from December 2024 until November 2025 under the theme of “Solidarity, Equality, Sustainability.” This participation marks Egypt’s fifth engagement in G20 discussions and its third consecutive year attending these meetings.

In summary, Governor Hassan Abdalla’s leadership at the G20 meeting underlines Egypt’s commitment to addressing critical global economic challenges through enhanced international cooperation and innovative financing. The emphasis on sustainable finance, digitalization in tax reforms, and equitable international taxation reflects the Egyptian delegation’s priorities. Furthermore, this participation highlights Egypt’s evolving role within the G20, fostering greater dialogue and collaboration in the pursuit of shared economic goals.

Original Source: www.dailynewsegypt.com