Mahmoud Mohieldin elected to represent Egypt, Arab Group at IMF

(MENAFN- Daily News Egypt) Mahmoud Mohieldin, UN Special Envoy on Financing the 2030 Agenda for Sustainable Development, has been elected as an Executive Director at the International Monetary Fund (IMF) and representative for Egypt and the Arab Group. The nomination came after an agreement between the 11 Arab members at the IMF. The Arab Group at the IMF includes Egypt, UAE, Bahrain, Iraq, Jordan, Kuwait, Lebanon, Libya, Maldives, Oman, Qatar, Syria, and Yemen. Mohieldin will assume the new IMF position by the end of this month, succeeding Hazem Beblawi.

Mohieldin thanked Egypt's President Abdel Fattah Al-Sisi for supporting his nomination.He stressed that his work will be focused on supporting Arab countries to achieve their economic and development goals through their financial and monetary policies. "Especially as they face major challenges due to the coronavirus pandemic and its economic consequences, such as the decline in growth rates, employment and increased debt."

He added that work will also be done to stimulate private investment to participate in growth, and to emphasize the importance of balanced policies to achieve development goals. These goals include eradicating poverty, providing job opportunities, achieving equity in the distribution of incomes, supporting the environment, and dealing with climate change.

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