This came on the sidelines of the high-level event held by METAC in Cairo to celebrate its 20th anniversary.

The discussion reviewed the protocol Egypt’s Ministry of Finance had signed during the event with the centre and its expected impact on Egypt’s debt management, fiscal policy, and tax collection.

On Wednesday, the two sides signed a protocol of cooperation to support Egypt's efforts in improving tax policy and debt sustainability and building strong relationships with the private sector.

Why Egypt?
 

Floerkemeier said that hosting the 20th-anniversary meeting of METAC in Cairo highlights Egypt’s importance as a key partner in the region.

“As METAC’s largest member by population, Egypt is a central player in the centre's capacity development initiatives. The country also accounts for over 10 percent of METAC's total development services. Moreover, Egypt's robust infrastructure and role as a regional hub for events make it an ideal destination for METAC's increasing number of regional workshops and bilateral missions,” said Floerkemeier.

METAC has held several important meetings in Cairo, including the June Steering Committee meeting, where member countries, development partners, and IMF representatives convened to discuss the centre’s work.

The centre has collaborated with the Central Bank of Egypt (CBE) to address the challenges of aligning international best practices with the nature of the Egyptian banking sector and its needs while fitting with the prevailing legal and regulatory frameworks. This entails providing technical assistance on CBE’s liquidity risk management, corporate governance, consolidated supervision, and early intervention.

Public financial management
 

Much of METAC’s work in the region focuses on enhancing public financial management (PFM).

“This includes improving budget institutions, expenditure controls, cash management, and fiscal reporting mechanisms. Through these initiatives, METAC helps governments build transparency in budgeting and financial reporting, which is critical for effective fiscal management and accountability,” Floerkemeier explained.

According to Floerkemeier, METAC assists countries with assessing fiscal risks, including those associated with state-owned enterprises and public-private partnerships. By improving fiscal risk management, METAC contributes to more sustainable financial practices and reduces the potential for budgetary surprises.

Capacity development
 

Floerkemeier elaborated that METAC’s capacity development efforts are not limited to financial management.

“They extend to key sectors such as revenue administration, financial stability, and statistics. Through collaboration with countries and partners, METAC assists with developing stronger tax and customs administrations, enhances central bank operations, and promotes financial sector stability through improved regulation and supervision,” he said.

The centre also highlights the importance of statistics, particularly in empowering policymakers to design evidence-based policies. Strong statistical foundations, including national accounts and public sector debt data, are vital for monitoring economic health and ensuring government accountability.

Role of int'l partners
 

According to Floerkemeier, METAC’s initiatives rely heavily on the support of international development partners, including Germany, the Netherlands, Switzerland, France, the European Union, and, recently, Saudi Arabia.

“These partnerships provide crucial financial backing, allowing METAC to expand its services and achieve meaningful outcomes across the MENA region. While development partners provide much of the funding, METAC also encourages its member countries to invest in these programmes, realizing that the returns far outweigh the initial investments,” he explained.

Support for resilience
 

Ahram Online also discussed with Floerkemeier how METAC could help MENA countries navigate the implications of the ongoing geopolitical tensions.

To that end, Floerkemeier said that MENA, including Egypt, currently faces several challenges — from regional conflicts to economic instability.

“METAC's work is grounded in the belief that strong economic institutions are crucial for navigating these turbulent times. By providing long-term capacity development support, METAC aims to help governments build resilient frameworks that allow them to adapt to external and internal shocks,” he expounded.

He also added that in fragile countries, such as Yemen and Lebanon, where political and economic disruptions have significantly weakened institutional capacity,

“METAC plays a pivotal role in rebuilding essential economic functions. This involves offering training, rebuilding administrative structures, and providing hands-on support for public financial management and tax policy.”

METAC’s focus areas
 

As per Floerkemeier, METAC has continuously supported the following four core areas of development over the past two decades:

1.   Public financial management (PFM): strengthening budget institutions, expenditure controls, and fiscal reporting.

2.   Revenue administration: improving tax and customs administration to boost government revenue.

3.   Financial stability: enhancing regulation and supervision of the financial sector, especially central banks and banking systems.

4.   Statistics: supporting countries in collecting, compiling, and disseminating economic data.

“In recent years, METAC has expanded its scope to include additional areas, such as tax policy advice, macroeconomic frameworks, and public debt management. These new initiatives address emerging challenges, such as managing national debt and improving macroeconomic forecasting, which are particularly relevant for countries facing financial pressure,” he further explained.

Moving forward
 

Floerkemeier noted that METAC's overarching mission is to promote good governance for economic resilience.

“This theme resonates particularly in light of the current regional challenges, where countries are grappling with economic and geopolitical shocks. By focusing on building stronger economic institutions, METAC helps governments in the region create the necessary frameworks for economic resilience and sustainable development,” he indicated.

Speaking of Egypt, he said that as Egypt and its neighbours face ongoing challenges, from inflation and debt to regional conflicts, METAC’s continued support is essential in fostering long-term economic stability.

“The recent 20th-anniversary event highlighted METAC’s achievements and reaffirmed its commitment to working with countries in the region to improve fiscal governance and public sector capacity,” he pointed out.

Towards sustainable development
 

In this regard, Floerkemeier said that, as a key player in the MENA region’s economic development, METAC continues to foster regional collaboration, build institutional capacity, and provide vital technical assistance.

“The centre’s work in Egypt, Lebanon, and other member countries is a testament to its role in strengthening economic resilience and supporting effective governance. With an expanding focus on new work streams, such as public debt management and macroeconomic forecasting, METAC is well positioned to address the region’s evolving needs and help governments navigate these challenging times,” he highlighted.