Egypt’s Foreign Minister Badr Abdel-Aati took part in the meeting of the Group of 24 (G24) Ministers and Governors on Tuesday during his visit to Washington for the World Bank and IMF Spring Meetings. Abdel-Aati attended in his capacity as Egypt’s Governor at the World Bank.
In his speech, Abdel-Aati praised the G24’s role in addressing global challenges, highlighting the link between peace and development. He pointed to the political, economic, and humanitarian consequences of recent conflicts in the Middle East and their impact on regional and international stability.
The minister reviewed current geopolitical tensions and structural challenges facing the global system. He noted that the world economy is undergoing deep transformations, with energy markets, supply chains, and global trade all affected. He stressed that developing countries, especially middle-income nations, are among the most vulnerable to these shifts.
Abdel-Aati called for urgent reforms to the international economic system to strengthen resilience, attract investment, and support sustainable growth. He emphasized the importance of continued backing from the IMF and World Bank to safeguard macroeconomic stability and assist national reform efforts.
He also underlined the need to restructure the global financial system, proposing innovative tools to boost liquidity without adding burdens on developing countries. Debt reform was another priority, with calls for comprehensive mechanisms to address crises in low- and middle-income nations and expand debt-swap initiatives.
Abdel-Aati concluded by outlining Egypt’s vision for economic development, focused on building on past reforms, supporting productive sectors, and empowering the private sector under the national structural reform program.
