Egyptian Prime Minister Mostafa Madbouly and Central Bank Governor Hassan Abdalla met to coordinate the preparation of a National Economic Transformation Programme and review ongoing efforts to reduce inflation and increase dollar inflows.

During the meeting, which focused on priority economic files and mechanisms to enhance financial and monetary stability, the officials reviewed several axes of work related to Egypt’s upcoming economic reforms. They confirmed continuous coordination to maintain safe levels of foreign exchange reserves capable of securing strategic requirements for basic commodities.

Abdalla also briefed the prime minister on his recent visit to Nairobi, Kenya, where he led Egypt’s delegation at the 48th Annual Meetings of the Association of African Central Banks from September 13 to 18. The event was attended by 34 central bank governors from the association’s 41 member banks, representing 53 African nations.

The governor noted his participation in the 14th meeting of the Pan-African Payment and Settlement System (PAPSS) Governing Council on the sidelines of the annual meetings.

“These participations come within the framework of keenness to support banking relations at the regional level, and enhance economic and trade cooperation with various African countries,” Abdalla said.

Abdalla additionally highlighted his attendance at a high-level conference on the uses of artificial intelligence in central banking practices, organised by the Central Bank of Kenya to mark its 60th anniversary.

He stated that discussions at the conference focused on three main axes: AI applications in monetary policy and financial stability, the development of banking supervision and financial integrity, and AI governance and associated risk management. The conference also examined the potential of employing AI to analyse large and diverse datasets to support economic forecasting.