Washington: Minister of Finance Ahmed Kouchouk said that strengthening domestic revenue mobilization and blended finance mechanisms helps reduce investment risks in Africa. Speaking during the African Consultative Group meeting held on the sidelines of the Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, Kouchouk stressed the importance of combining concessional domestic resources with private capital to address rising costs of energy and food.

According to State Information Service Egypt, the minister noted that exceptional regional challenges have intensified the trade-offs between development spending, climate-related investment, and social protection. This situation is particularly pressing in light of growing debt burdens driven by increased financing needs in African economies and higher borrowing costs amid ongoing geopolitical tensions.

The minister highlighted that the Egyptian government is continuing efforts to strengthen fiscal discipline in a way that supports the business environment and stimulates economic activity. He added that the "tax facilitation" initiative has delivered strong revenue performance by promoting voluntary tax compliance and expanding the tax base through rebuilding trust with the private sector.

He further stated, "We look forward to a greater role for the International Monetary Fund in supporting African countries through more flexible programs, as well as enhanced policy advice and capacity development." Kouchouk also noted that Egypt's successful issuance of Eurobonds and green bonds, access to Asian financial markets, and the issuance of sukuk underscore the importance of diversifying financing instruments.