An Egyptian minister holds a senior position at the International Monetary Fund

Moait is scheduled to succeed the other Egyptian, Mahmoud Mohieldin, whose term ended last Wednesday.

Bakri confirmed today, Friday, citing what he described as “important sources,” that it was agreed with the group of Arab countries to nominate Maait for the position of Executive Director of the International Monetary Fund, provided that the decision to assume the position will be announced during the Fund’s annual meetings, which will be held from the 25th to the 27th. This October, coinciding with the announcement of the full composition of the fund’s executive directors.

Maait served as Minister of Finance in Egypt for about 6 years, in the first government of Mostafa Madbouly, from June 2018, until April 2024. Before that, he worked as Deputy Minister of Finance for Public Treasury Affairs, and Assistant to the Minister of Pensions and Social Security. He also held the position of Acting and Deputy Chairman of the Authority. Egyptian Financial Supervision from 2013 to 2015.

Moait obtained bachelor’s and master’s degrees from the Faculty of Commerce at Cairo University. He also obtained a doctorate from City University in London. He worked as a teacher at Cairo University and a number of Egyptian and foreign universities in Sudan, England and Scotland.

Dr. Mahmoud Mohieldin’s term as representative of the Arab Group at the International Monetary Fund has ended, after he held the position since 2020.

Mohieldin said in a statement that he was “honored to serve the member states of the group over two consecutive sessions from 2020 to 2024,” noting “the intense cooperation with the group’s governors at the International Monetary Fund, including ministers, governors, their deputies, and the work teams supporting them, in a period that witnessed economic challenges.” “Political, security, and major developments and confusions at the global and regional levels.”

He continued: “I look forward to cooperating with Arab governments, central banks, and Arab regional institutions through my work as an envoy of the Secretary-General of the United Nations to finance the 2030 Agenda for Sustainable Development.”

Source: RT + Egyptian Shorouk