Who are Egypt's new economic ministers?
Who is the Minister of Investment Mounir Fakhry AbdelNour?
Being the current Secretary General of the National Salvation Front and the New Wafd Party, AbdelNour served as the Minister of Tourism in three consecutive cabinets under former PM Ahmed Shafik, Essam Sharaf and Kamal ElGanzoury. Although he held a post in the tourism sector, his expertise lies in private investment as a source of economic development, according to his Master’s thesis from the American University in Cairo. AbdelNour is the founder of the Egyptian Finance Company and was a member of the National Council for Human Rights. He sat at the board of the Cairo and Alexandria Stock Exchange and founded the Egyptian company Vitrac in 1981. Additionally, he is a board member of the Center of Developing Countries Research and Studies.
Who is the Minister of Finance Ahmed Galal?
Currently the Managing Director of the Economic Research Forum, Galal is also a World Bank veteran, having served the bank for 18 years in several positions. He is a specialist on policies in Latin America, the Middle East, Asia and Europe. He is also the author and co-author of several books concerning fiscal policy and regulation of monopolies. Being a member of the International’s Monetary Fund’s Regional Advisory Group on the Middle East, he believes that politics play an important role in forming sound economic policies. Galal was awarded the prize for The Economic and Social Sciences by the Kuwait Foundation for the Advancement of Sciences in recognition of his contribution to knowledge on economic development broadly and in the Middle East in particular. He joined the board of several economic think-tanks all over the world and was the Executive Director and Director of Research of the Egyptian Center for Economic Studies.
In response to public demand, Egypt’s military leader AbdelFattah ElSissy had ousted President Mohamed Morsi after one year in office and appointed Adly Mansour as the interim president, vowing that the Supreme Council of Armed Forces will not play a political role in the future.