Dr. Waleed Gaballah, a member of the Egyptian Economic, Statistics, and Legislation Association, emphasized that the G20 summit held in South Africa represents a major economic bloc controlling approximately 85% of global GDP and 75% of international trade volume. In a televised interview with Extra News, he highlighted that international responsiveness to Egypt’s proposals could be pivotal in addressing financial challenges facing developing nations. n nThe summit, which includes not only member states but also the European Union and the African Union, is prioritizing inclusive and sustainable growth strategies, climate risk mitigation, and the future of critical minerals. Gaballah stressed that these issues are no longer optional but essential for global economic stability, which depends on the recovery of all regions, including Africa. n nA key Egyptian proposal, introduced by Prime Minister Dr. Mostafa Madbouly, calls for overhauling the global financial architecture by shifting from debt relief to debt-for-development swaps. This approach would redirect funds toward climate and infrastructure projects across Africa. Gaballah urged international financial institutions to ease access to financing for low-income countries under fairer terms. n nHe also pointed out Africa’s vast potential to become a global food basket and a central node in supply chains, citing continental connectivity initiatives such as the Cairo–Cape Town highway and expanded rail networks. With adequate funding and advanced agricultural technology, the continent could significantly contribute to resolving global food insecurity. n nGaballah concluded by underscoring the necessity of digital transformation in today’s economy. He cited Egypt’s leading role in digital transition and called on developed nations to provide technological and financial support to African countries, helping bridge the digital divide and integrate the continent into the modern global economic system. n— news from اليوم السابع
