Egypt calls for more responsive global financial system for emerging economies
Finance Minister Ahmed Kouchouk on Wednesday, August 12, 2026, called for a more responsive global financial system that better addresses the growth and development priorities of emerging economies. Kouchouk also urged a greater role for multilateral development banks in providing low-cost financing to help developing countries manage risks. Speaking at a meeting of BRICS finance ministers … The…
Finance Minister Ahmed Kouchouk urged for a more responsive global financial system that prioritizes growth and development goals of emerging economies. During a BRICS finance ministers and central bank governors meeting in India, Kouchouk advocated for multilateral development banks to provide affordable financing to assist developing nations in managing risks.
He emphasized the importance of enhancing resilience and innovation capabilities of developing economies to promote inclusive and sustainable development. Kouchouk also called for increasing the influence of developing countries in crafting a more equitable and inclusive international financial system. He encouraged the incorporation of digital technologies and artificial intelligence into structural reforms to foster human capital development, boost productivity, and enhance competitiveness.
Furthermore, Kouchouk advocated for strengthened trade and investment relationships among countries in the Global South to counteract economic and geopolitical instability.
Written by urgent.news from Egypt Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
