The head of the Comprehensive Health Insurance Authority and former Finance Minister in Egypt, Mohamed Maait, won the position of Executive Director representing the Arab Group and the Maldives countries in the International Monetary Fund (IMF) succeeding Mahmoud Mohieldin, whose term ended in October.
The US capital, Washington, witnessed the voting process to choose Maait after voting closed on Friday.
The result was announced by the IMF on Saturday, on the sidelines of the annual meetings of the fund and the World Bank in Washington, amid a large official Egyptian presence and strong Arab support for the Egyptian candidate.
Maait is scheduled to assume his new position as representative of the Arab countries and the Maldives on November 1, with the announcement of the full formation of the Fund’s executive directors for all regions next week.
Maait assured that he will work through his new position to double efforts to support Arab economies to support their growth.
This will be done through supporting consistent, integrated and balanced international financial and monetary policies that push the path of financial stability, control public finances, and form strong economic pillars that are more diverse, flexible and capable of growing at good and sustainable rates to serve developing countries, especially low- and middle-income countries.
He further assured that he will also work to push for addressing debt problems and their burdens in order to access appropriate financing for development and create more job opportunities.
The former finance minister noted the importance of working to give the private sector more space in economic activity.
