Egypt’s Mahmoud Mohieldin elected as executive director of International Monetary Fund

CAIRO – 19 October 2020: Egyptian candidate Mahmoud Mohieldin was elected unanimously as the executive director of the International Monetary Fund (IMF) and, accordingly, an IMF board representing the country and Arab states.

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

Mohieldin said that his work will focus on supporting Arab countries to achieve their economic and developmental goals, through financial and monetary policies, especially amid current major challenges posed by the implications of the novel coronavirus and the pandemic’s effect on the economic situation.

He added that the work will also include encouraging the private sector to participate in development efforts, underlining the importance of adopting balanced policies to achieve the development goals, especially in the fields of combating poverty, securing job opportunities, achieving justice in income, protecting the environment and dealing with climate change.

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.

Mohieldin has assumed a number of international posts, the last of which is the World Bank Group Senior Vice President for the 2030 Development Agenda, United Nations Relations, and Partnerships until January 2020.