Egypt's Candidate Mohieldin Elected as IMF Executive Director

Hours ago, Egyptian candidate Mahmoud Mohieldin PhD, was elected unanimously as the executive director of the International Monetary Fund (IMF) and board member representing Egypt as well as as the Arab states.

The Arab states represented are the United Arab Emirates, Kuwait, Bahrain, Oman, Qatar, Iraq, Lebanon, Jordan and Yemen.

On his part, Dr. Mohieldin extended his appreciation to President Abdel Fattah El Sisi for this candidacy, as well as the support given by the government in Cairo and the Central Bank of Egypt (CBE).

Speaking following his appointment, Dr. Mohieldin asserted that his work will be focused on supporting the Arab countries to achieve their economic and developmental goals, via financial and fiscal policies, especially amid ongoing economic repercussions of the Covid-19 pandemic, specifically the decline in growth, unemployment and increase in debts.

He added that work will also be made to encourage private investments to contribute in growth, placing emphasis upon balanced policies to achieve development, and especially to eradicate poverty, job creation, just distribution of income and environment protection and dealing with climate change.

Worth noting that Dr. Mohieldin has occupied several international positions, the last was earlier in February when he was already World Bank senior vice president, and has been appointed as the UN's Special Envoy on Financing the 2030 Agenda.

By assuming the post, Mohieldin will succeed Egypt's Former Prime Minister Hazem Biblawi whose term in this post is set to end by the end of October.