Egypt’s Finance Minister pushes for innovative financing measures to help alleviate Africa’s debt burden

On the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Washington, Egypt’s Finance Minister, Ahmed Kouchouk called for reforms in multilateral international institutions to improve the representation and role of African and emerging countries. He highlighted the importance of innovative financing solutions and debt-for-investment swaps to reduce debt and debt service costs, noting that easing debt burdens and expanding access to affordable financing are crucial for sustainable development.