Finance Minister Mohamed Maait stressed on Friday 1/3/2024 the importance of international cooperation among all parties to address the global debt issue through comprehensive and effective solutions.

Maait said, during a session on ‘Global Debt and Financing Sustainable Development’ within the meetings of finance ministers and central bank governors of the G20 in Brazil, that the state of uncertainty has increased, and restrictive policies have prevailed in the global economic scene. Maait added that negative shocks far from the economic system have doubled their severity on regional and international geopolitical tensions.

Finance Minister Mohamed Maait pointed out that the sustainability of finance, growth and development in developing countries requires international strategies based on a global financial structure that is primarily concerned with emerging economies and supportive of their local policies in a way that contributes to advancing development paths.

Source: State Information Service Egypt