Latest news with #AbuBakrHefnyMahmoud
Daily News Egypt
22-02-2025
- Business
- Daily News Egypt
Egypt's Deputy Foreign Minister highlights sustainable development at G20 meeting
Egypt's Deputy Foreign Minister, Ambassador Abu Bakr Hefny Mahmoud, has attended the G20 Foreign Ministers' Meeting in Johannesburg, South Africa, representing the Minister of Foreign Affairs, Badr Abdelatty. Speaking on 21 February during the general session of the two-day meeting, Mahmoud outlined Egypt's position on the G20's priorities for 2025. The Deputy Foreign Minister affirmed Egypt's support for the South African presidency's priorities for the G20, noting they reflected the interests of developing countries, particularly Africa's Agenda 2063 for development. He emphasised Egypt's commitment to cooperating on these priorities to accelerate the implementation of the Sustainable Development Goals (SDGs), through enhanced access to financing for developing countries, including debt-for-climate swaps, the use of modern technology, particularly artificial intelligence, and enhanced water and food security. Mahmoud also highlighted the challenges facing the world, particularly the increase in unilateralism and protectionism, stressing the importance of international solidarity and cooperation to address these issues. He focused on the role the G20 could play in addressing imbalances in the global financial architecture, particularly by increasing access to concessional financing. He stressed the importance of avoiding a situation where developing countries are forced to choose between tackling climate change and achieving sustainable development, stating both are necessary. Mahmoud noted the Group's potential to ensure that the practices of international financial institutions and multilateral development banks are equitable and able to provide solutions tailored to the needs of developing countries. He further highlighted the need to manage debt burdens in a way that ensures macroeconomic stability in low- and middle-income countries, avoiding a new global debt crisis. Egypt is participating in the G20 meetings this year at the invitation of South Africa, the current G20 president, as a guest nation across all meetings until the end of the South African presidency in November 2025.
Al-Ahram Weekly
22-02-2025
- Business
- Al-Ahram Weekly
Egypt urges debt-for-climate swaps to accelerate sustainable development in Africa - Foreign Affairs
Egypt's Deputy Foreign Minister Abu Bakr Hefny Mahmoud highlighted the necessity of debt-for-climate swaps in driving sustainable development across Africa at the Group of Twenty (G20) foreign ministers meeting in Johannesburg, South Africa. According to an Egyptian foreign ministry statement, Mahmoud affirmed Egypt's commitment to working alongside South Africa to advance their G20 presidency priorities in this area. The G20 is an annual meeting of twenty economic world powers, representing 85% of global GDP, 75% of trade, and around 80% of the population. The forum was conceived in the wake of the Asian Financial Crisis of 1997–98 and has held annual meetings since 1999. The statement noted that Mahmoud stressed the importance of enhancing financial access for developing nations, specifically through measures such as 'debt-for-climate swaps, utilizing modern technologies like artificial intelligence, and strengthening water and food security. " During the two-day meeting on Thursday and Friday, Mahmoud acknowledged the prevailing global challenges - particularly the rise in unilateral and protectionist policies - and called for enhanced international solidarity and cooperation. He urged the G20 to address the imbalances in the global financial system, focusing on expanding access to affordable financing, and cautioned against forcing developing nations to choose between climate action and sustainable development. Furthermore, Mahmoud advocated for ensuring that international financial institutions and multilateral development banks operate fairly and offer solutions tailored to the needs of developing countries. He underscored the necessity of managing debt burdens to maintain macroeconomic stability in low and middle-income nations and prevent a new global debt crisis. Egypt has repeatedly called for setting up a mechanism to ease the debt burden on African nations, given the economic impacts of successive crises on the continent. Africa is home to nearly one-sixth of the world's population, numbering almost 1.4 billion people. The continent has witnessed its external debt rise to over $650 billion, with debt servicing costs approaching nearly $90 billion in 2024. Egypt is participating in G20 meetings as a guest country upon invitation from South Africa, the current G20 president, to join the global event's meetings. South Africa's presidency will end in November 2025. Short link:
Egypt Today
22-02-2025
- Business
- Egypt Today
Deputy Foreign Minister Participates in G20 Foreign Ministers' Meeting
CAIRO – 21 February 2025: Deputy Foreign Minister of Egypt Ambassador Abu Bakr Hefny Mahmoud participated in the G20 Foreign Ministers Meeting held in Johannesburg, South Africa, on behalf of Badr Abdelatty, the Minister of Foreign Affairs Emigration, and Egyptians Abroad. On the morning of February 21st, during the second and final day of the meeting, Ambassador Mahmoud delivered Egypt's speech at the plenary session, which focused on the G20 priorities for 2025. The Deputy Foreign Minister reaffirmed Egypt's support for the priorities outlined under South Africa's presidency of the G20, emphasizing that these priorities reflect the interests of developing countries, particularly Africa's development agenda for 2063. He expressed Egypt's commitment to cooperating on the implementation of these priorities, which aim to accelerate the achievement of the sustainable development agenda. Key areas of focus include enhancing access to financing for developing countries, implementing debt swaps for climate change mitigation, leveraging modern technologies like artificial intelligence, and boosting water and food security. Ambassador Mahmoud also addressed the global challenges currently facing the world, notably the rise of unilateral and protectionist policies. He stressed the importance of international solidarity and cooperation to overcome these challenges. Additionally, the Deputy Foreign Minister highlighted the role the G20 can play in addressing imbalances in the global financial system, particularly by improving access to concessional financing. He underlined the need to avoid forcing developing countries into a position where they must choose between two critical goals: combating climate change and achieving sustainable development. He also pointed out the G20's potential role in ensuring that international financial institutions and multilateral development banks operate fairly and provide appropriate solutions to meet the needs of developing countries. Ambassador Mahmoud emphasized the importance of managing the debt burden in a way that ensures macroeconomic stability for low- and middle-income countries, helping them avoid a new global debt crisis. It is important to note that Egypt's participation in the G20 meetings this year is in response to an invitation from South Africa, the current president of the G20. Egypt will be participating as a guest country in various G20 events throughout the meetings until the conclusion of South Africa's presidency in November 2025.
Middle East
06-02-2025
- Politics
- Middle East
OPEN// Sisi sends message to CAR President on strengthening ties
CAIRO, Feb 5 (MENA) – Deputy Minister of Foreign Affairs, Emigration and Egyptian Expatriates Affairs Abu Bakr Hefny Mahmoud delivered a message from President Abdel Fattah El Sisi to his Central African Republic (CAR) counterpart Faustin-Archange Touadéra, reaffirming Egypt's commitment to strengthening bilateral ties and cooperation in priority sectors. During their meeting, President Touadéra expressed appreciation for Egypt's leadership in supporting Africa's development and stability. The discussions covered regional and international challenges, highlighting the importance of peace and dialogue. Hefny also met with CAR Foreign Minister Sylvie Baïpo-Temon, conveying the greetings of Egypt's Foreign Minister Badr Abdelatty. Talks focused on enhancing economic and political cooperation, with Egypt offering support in capacity-building and technical training. As part of his visit, Hefny inspected Egyptian peacekeeping forces deployed under the United Nations MINUSCA mission, commending their role in maintaining security. He also met with Valentine Rugwabiza, UN Special Representative and Head of MINUSCA, who praised Egypt's contributions to peacekeeping and humanitarian efforts in the region.
