Egypt's Mahmoud Mohiedin was unanimously elected as the executive director of the International Monetary Fund (IMF).

Mohiedin will also become an IMF board member representing Egypt and the Arab states group which comprises Egypt, the UAE, Bahrain, Kuwait, Oman, Qatar, Jordan, Iraq, Lebanon, and Yemen.

Mohiedin thanked President Abdel-Fattah El-Sisi for nominating him for the post in addition to the support of the Egyptian government and the Central Bank of Egypt.

He said he will focus on supporting the Arab countries to realize their economic and development goals, especially in view of the coronavirus impact on the economic sector and growth rates.

He added that he will work on incentivizing private sector to participate in achieving growth, underlining the importance of adopting balanced policies to achieve development goals, especially combating poverty, securing jobs and promoting environment's resilience to climate change.

Mohiedin, as the representative to Egypt and Arab countries at the IMF, will succeed Egypt's former prime minister Hazem El-Biblawy whose term in this post will end by the end of the month.