The agreement was signed by Egypt’s Minister of Finance Ahmed Kouchouk and METAC Director Holger Floerkemeier.

It represents a continuous collaboration effort between the two parties to improve tax policies, support fiscal policies, and ensure lower debt level sustainability.

METAC key mission
 

METAC’s mission is to deliver tailored, high-quality technical assistance to Middle East countries, particularly those facing instability and fragility, to build resilient institutions and sustainable economies, Jihad Azour, director of the Middle East and Central Asia Department at the IMF, said during the event.

Azour noted that METAC was designed to be a key reform partner and a bridge to IMF headquarters. Through it, he added, the IMF is today making a long-term commitment of resources and expertise to the whole region.

“Over the past two decades, METAC has made a tangible impact across the region in strengthening economic governance, enhancing policy frameworks, and providing the support needed to create a foundation for economic stability and inclusive recovery,” Azour emphasized.

Moreover, Azour said the centre has supported national efforts to improve public financial management, enhance tax reforms, build robust statistical systems, and strengthen monetary and fiscal institutions.

“However, one of METAC’s most profound contributions has been in fragile and conflict-affected settings. These countries, where the challenges are most acute, are also where the need for technical expertise and institutional capacity-building is most urgent," he stated.

"In these contexts, METAC has provided not only expertise but also hope — a roadmap for recovery. From Lebanon to Yemen, Iraq, and beyond, METAC has been instrumental in supporting governments as they rebuild, stabilize, and restore essential state functions,” Azour explained.

Expansion plans
 

In the 2023-2027 programme phase, METAC will expand its capacity development services, scaling up its support to fragile and conflict-affected states, he said.

Azour added that in response to the strong demand from member countries, METAC has introduced new workstreams, some of which were highlighted in Wednesday’s discussions.

Egypt-METAC long cooperation
 

Meanwhile, Minister Kouchouk emphasized Egypt's keenness to leverage international expertise to contribute to its plan to build trust, partnership, and certainty with the tax community and promote the growth of the private sector in the Egyptian economy.

He also expressed appreciation for the METAC's efforts to provide economic and financial services to countries in the region, strengthen capacities, and advance human development efforts.

During his speech, Kouchouk noted that the centre plays a significant role in enhancing efforts for economic stability, inclusive growth, and sustainable development.

The minister also affirmed Egypt's commitment to continuing its cooperation with METAC to build more resilient economies in the Middle East and North Africa.

“The ministry has three key cooperation pillars with METAC: building strong partnerships with taxpayers and the private sector, calibrating the fiscal policy for improvement, and ensuring debt sustainability,” Kouchouk revealed.

He said the economic landscape in the Middle East and North Africa is increasingly dynamic and complex, which requires greater cooperation and integration to address shared challenges.

In addition, he emphasized Egypt’s recognition of the importance of multilateral partnerships in strengthening financial policies that foster inclusive and sustainable growth, and

"Egypt is striving for a larger and more influential role in supporting its resilience against shocks and improving the foundations of economic flexibility," he stated.

Kouchouk also pointed out that collective efforts could pave the way for a better future for the region, focused on sustainable growth and improved living standards.

He further expressed Egypt's anticipation for METAC’s support in enhancing its ability to tackle the challenges of climate change, digital transformation, and social inclusion.

He stressed that Egypt has greatly benefited from METAC's expertise in the financial and economic fields and is working on more effective fiscal policies to stimulate economic growth and improve citizens’ living standards through increased social spending.

Furthermore, Kouchouk highlighted the significant progress Egypt has made in improving fiscal discipline and public financial management as part of a comprehensive and integrated economic reform programme.

For his part, Floerkemeier thanked the Egyptian authorities for their commitment to developing METAC's capabilities and demonstrating strong ownership of the centre for 20 years.

He noted that this investment has had a high return for Egypt and the member countries, providing a public benefit to the whole region and the international community.