In a roundtable discussion with African finance ministers during the IMF and World Bank Spring Meetings, Mohamed Maait, Egypt’s Minister of Finance, highlighted the decline in public health indicators across Africa. This downturn is attributed to global tensions and the resulting inflationary pressures, which have led to increased costs for basic goods and services, alongside funding and food shortages. Maait stressed the critical role of international financial institutions in offering innovative and accessible sustainable financing to bolster emerging economies. Such support is vital for enhancing healthcare quality in African nations and facilitating a transition to a green economy, leveraging clean energy sources like green hydrogen.

At the high-level meeting in Washington, Maait asserted that advanced nations collectively bear the responsibility of providing healthcare in Africa. This collaboration is pivotal for fostering recovery and sustainable growth, introducing cost-effective developmental resources, and devising creative investment strategies in health, education, and food security. He noted Egypt’s significant efforts to improve comprehensive health insurance systems and healthcare services for fellow African countries.

Maait called for coordinated action to tackle global economic challenges, proposing effective strategies to mitigate the impact of economic shocks on developing nations. Amidst global tensions that disrupt economic stability, developing countries’ budgets face extraordinary challenges, impeding their progress towards comprehensive and sustainable development. He advocated for the mobilization of affordable sustainable financing to reinforce public health systems in Africa, ensuring universal healthcare access and the provision of developmental resources at lower costs.