Egypt plays an important role in reflecting the vision of emerging markets and developing countries in different international platforms

Concerted efforts are needed to face international challenges, the most important of which is the increase in the volume of indebtedness, the increase in interest rates and the cost of financing

We look forward to enhancing the financing capabilities of developing and emerging economies to stimulate investments, especially “green” investments

The global economic and financial system is far from the aspirations for development and inclusive sustainable growth of emerging countries

Financing costs are still high We hope to increase the role of multilateral development banks

The high cost of debt servicing adversely affects the efforts of emerging economies to implement their development goals

Analysis of credit rating agencies should take into account the efforts of African governments to improve economic conditions

African countries need to mobilize more domestic revenue and expand the tax base

Improving tax administration and policies and creating more fiscal space helps African governments spend on human capital development

The G20 has created positive momentum in dealing with the issues of “debt sustainability of emerging economies”

 

 

Minister of Finance, Ahmed Kouchouk, congratulated South Africa on assuming the presidency of the G20 in 2025, explaining that concerted efforts are necessary to face international challenges, the most important of which is the increase in the volume of indebtedness, high interest rates and the cost of financing.

 

In his meeting with South African Minister of Finance, Enoch Godongwana, on the sidelines of their participation in the meetings of the World Economic Forum "Davos 2025", Kouchouk said that Egypt plays an important role in reflecting the vision of emerging markets and developing countries in various international platforms.

 

He added that we look forward to enhancing the financing capabilities of developing and emerging economies to stimulate investments, especially "green" investments, taking into account that the global economic and financial system is far from the aspirations of achieving development and comprehensive sustainable growth for emerging countries.

 

He pointed out that financing costs are still high, and that we hope to increase the role of multilateral development banks, pointing out that the high cost of debt servicing negatively affects the efforts of emerging economies in implementing their development goals.

 

The Minister assured that the analysis of credit rating agencies should take into account the efforts of African governments to improve economic conditions, explaining that African countries need to mobilize more domestic revenues and expand the tax base, bearing in mind that improving tax management and policies and creating more fiscal space helps African governments spend on human capital development.

 

The Minister pointed out that the G20 has created positive momentum in dealing with the issues of "debt sustainability of emerging economies."