Egypt had reviewed the candidacies for the presidency of the international institution; especially in light of economic and global markets and circumstances, since the global financial crisis deepened in October 2008, said Dr. Samir Radwan.

It is in the interest of Egypt to choose the best of candidates who is regarded an authority in the field, with established practical and professional experience, as well as personal abilities and a good knowledge of structural solutions required by the universal financial and monetary systems, to fill this important position so as to avoid future crises as major and acute as the global financial crisis, whose repercussions are still suffered by the global economy.

In spite of the radical reforms that took place within the institution of the International Monetary Fund (IMF) in the past two years, there is still a long and difficult way to complete the reforms related to the governance frameworks and the supervisory role of the Fund to serve the global economy, the minister added.