Central Bank of Egypt leads Egypt delegation at first 2025 G20 finance meeting and highlights development finance and cross-border payments priorities

The Central Bank of Egypt reported that Governor Hassan Abdalla headed Egypt’s delegation to the first 2025 meeting of the G20 Finance Ministers and Central Bank Governors in South Africa, where discussions covered the international financial architecture, financial sector issues and sustainable finance. Abdalla used the forum to highlight priorities spanning multilateral development finance, cross-border payment settlement and climate-related financing. Abdalla underscored the role of Multilateral Development Institutions and pointed to the potential for the G20 to foster dialogue with credit rating agencies on methodologies related to those institutions. He also referenced using technological advances to streamline cross-border payment settlements while maintaining data privacy and security, and discussed promoting sustainable finance and addressing climate change risks, including support for public-private partnerships, access to sustainable finance such as green bonds, and risk-sharing tools including blended finance and credit guarantees. Vice Minister of Finance Yasser Sobhi separately called for a balanced and gradual approach to tax reform, greater use of digitalisation to improve efficiency and compliance, and efforts toward a more equitable international taxation system. Deputy Governor Rami Abulnaga participated in the Second G20 Finance and Central Bank Deputies Meeting, which reviewed operational procedures for the G20 Finance Track workstreams, and in the first BRICS Finance and Central Bank Deputies meeting held alongside the G20 sessions, which reviewed priorities under Brazil’s BRICS presidency with a focus on central bank-related issues.