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Rania Al-Mashat

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Rania A. Al-Mashat (Arabic: رانيا المشاط; born 20 June 1975) is an Egyptian economist who is currently the country's Minister of Planning, Economic Development and International Cooperation.[1] She previously served as the country's Minister of International Cooperation from December 2019 to July 2024 and former Minister of Tourism from 2018 until December 2019.[2] She previously held high level positions at the International Monetary Fund in Washington DC and at the Central Bank of Egypt.

Rania Al-Mashat
Al-Mashat in 2019
Minister of Planning, Economic Development & International Cooperation
Incumbent
Assumed office
3 July 2024
Prime MinisterMoustafa Madbouly
Preceded byHala Helmy el-Said
Minister of International Cooperation
In office
22 December 2019 – 3 July 2024
Prime MinisterMoustafa Madbouly
Preceded bySahar Nasr
Minister of Tourism
In office
14 January 2018 – December 2019
Prime MinisterSherif Ismail
Moustafa Madbouly
Preceded byMohamed Yehia Rashed
Personal details
Born (1975-06-20) June 20, 1975 (age 49)
Cairo
Nationality Egypt
Alma materAmerican University in Cairo
University of Maryland, College Park

Early life and education

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Al-Mashat was born in Cairo to Abdel Monem El Mashat, a professor of Political Science at Cairo University and Nagwa el-Attar, who worked at Ain Shams University.[3][4] She graduated from The American University in Cairo (AUC) in 1995 with a Bachelor of Arts in Economics.[5] Her father was appointed Egyptian Cultural and Educational Counselor at the Egyptian Embassy in Washington DC in 1995, and Al-Mashat enrolled at the nearby University of Maryland,[4] where she completed her master's degree in 1998 and her PhD in 2001,[4][6] specializing in International Economics with a focus on monetary policy and public debt management.[3] She also completed Executive Education certificates in Leadership and Public Policy from the Kennedy School of Government and Transformational Leadership from Said Business School.[7]

Career

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Al-Mashat worked as an economist at the International Monetary Fund in Washington DC from June 2001 until July 2005.[4][5] When she started at the IMF, at age 25, she was the youngest person working there.[8][6][9] She worked on programs in India, Vietnam, and Gambia.[3]

In August 2005, Al-Mashat returned to Egypt at the invitation of Minister of Investment Mahmoud Mohieldin to help modernise the bank's systems and dealings,[9][8] where she worked as sub-governor and head of the Monetary Policy Department for the Central Bank of Egypt until May 2016.[4][5][6] After the 2011 revolution, she helped construct and present the Government's Economic Program.[6] She also taught economics at the American University in Cairo[10] and served on the Boards of the Egyptian Exchange, Arab International Bank and the Middle East Economic Association.[3]

In August 2016, Al-Mashat returned to the United States after she was appointed Advisor to the Chief Economist of the IMF, Maurice Obstfeld.[4][11] She said of this role, "I think the experience I had was always to surprise people on the upside by being a capable, Arab woman."[9] In 2017, she participated in the World Economic Forum's "Investing in Peace" panel and was listed as one of 10 economic experts whose input was sought for a discussion about "making the world a fairer place."[5]

In January 2018, Al-Mashat was appointed Egypt's Minister of Tourism by Prime Minister Sherif Ismail, taking the number of women in the Cabinet to six.[12][13] Al-Mashat became the first woman to hold the position and Egypt's youngest minister.[4] In this role she oversees the Egyptian Tourism Promotion Board and the Tourism Development Authority.[4] She later said she was initially surprised at her appointment, but she understood that the president wanted the tourism sector "to be handled from an economic perspective." Tourism represents between 15–20 percent of Egypt's GDP.[14]

In October 2018, Al-Mashat escorted US First Lady Melania Trump on her visit to the Giza Pyramids, saying that the visit conveyed the message of "Egypt's safety and security to the world."[15] In January 2019, Al-Mashat announced that Egypt's Grand Museum will be launched in 2020 and will be run by the private sector as part of the government plan to step away from managing many ancient sites.[16] Al-Mashat was one of six speakers at the World Tourism Forum in Lucerne May 2019.[17]

In August 2023, Abu Dhabi Islamic Bank Egypt (ADIB Egypt) named Al-Mashat as a member of its board of directors.[18]

Al-Mashat has spoken out about gender equality and the importance of education, saying, "To all Egyptian girls, continue to invest in your education. The world is very competitive and what you know is what distinguishes you from anyone else."[8]

Awards and honours

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Al-Mashat received the 2013 Distinguished Alumni Award from AUC.[5] In 2014, the World Economic Forum named her a "Young Global Leader".[4][5] In 2015, she was named one of the 50 most influential women in the Egyptian economy.[9]

In March 2021, Al-Mashat received the “Champions of Change” award during a joint ceremony organised by the Embassies of Mexico, Canada, and Sweden in Cairo.[19]

In December 2022, Al-Mashat received the award for “Most Visionary and Outstanding Minister of International Cooperation of 2022 in Africa”, presented by the George Washington University Institute of African Studies and the GE7 Initiative in the Visionary Leaders Annual Summit in Washington D.C.[20]

Selected publications

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  • Al-Mashat, Rania A.; Grigorian, David A. (1998). Economic Reforms in Egypt: Emerging Patterns and Their Possible Implications, Volume 1977. World Bank Publications.
  • Al-Mashat, Rania A.; Billmeier, Andreas (2008). "The Monetary Transmission Mechanism in Egypt" (PDF). Review of Middle East Economics and Finance. 4 (3): 32–82. doi:10.2202/1475-3693.1126. S2CID 198795350.
  • Al-Mashat, Rania (June 2008). "Monetary Policy in Egypt: A Retrospective and Preparedness for Inflation Targeting" (PDF). The Egyptian Center for Economic Studies.
  • Al-Mashat, R. (2009). "Monetary policy in Egypt: a retrospective and preparedness for inflation targeting". In H. Kheir-El-Din (ed.). What Drives Prices in Egypt?. Cairo: American University in Cairo Press for the Egyptian Center for Economic Studies Publication.
  • Al-Mashat, R. (2011). "The Evolution of Monetary Policy in Egypt and Steps towards Inflation Targeting". In D. Cobham; Mongi Boughzala (eds.). Inflation Targeting in MENA Countries: An Unfinished Journey. Palgrave Macmillan. pp. 230–255. doi:10.1057/9780230316560_9. ISBN 978-1-349-33139-0.
  • Al-Mashat, R. (2011). "Assessing inflation and output variability using a New Keynesian model: an application to Egypt". In D. Cobham; G. Dibeh (eds.). Money in the Middle East and North Africa: Monetary Policy Frameworks and Strategies. London: Routledge.
  • Al-Mashat, R.; Billmeier, A. (2012). "Push or Pull? The Determinants of Remittances to Egypt". Review of Middle East Economics and Finance. 8 (2): article 2. doi:10.1515/1475-3693.1429. S2CID 152941654.

Personal life

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Al-Mashat is a Muslim and she first made a pilgrimage to Mecca in 1997.[14]

References

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  1. ^ "Rania Al-Mashat takes on more responsibilities in new government - Dailynewsegypt". 2024-07-03. Retrieved 2024-07-20.
  2. ^ "رانيا المشاط وزيرة التعاون الدولى".
  3. ^ a b c d Al-Mashat, Rania A. (12 December 2016). "Playing an Active Policy Role within the Government". In Samia Spencer (ed.). Daughters of the Nile: Egyptian Women Changing Their World. Cambridge Scholars Publishing. pp. 37–46. ISBN 9781443844956.
  4. ^ a b c d e f g h i "Rania Al-Mashat, ECON PhD '01". College of Behavioral and Social Sciences, University of Maryland.
  5. ^ a b c d e f "AUC Alumna Rania Al-Mashat Egypt's New Minister of Tourism". The American University in Cairo.
  6. ^ a b c d Grant, Naomi (January 23, 2018). "Egypt's first female minister of tourism is a UMD grad". The Diamondback. The University of Maryland. Retrieved April 1, 2019.
  7. ^ "About the Minister". mped.gov.eg. Retrieved 30 July 2024.
  8. ^ a b c "What You Need To Know About Egypt's First Ever Tourism Minister". Cairo Scene. January 14, 2018. Retrieved April 1, 2019.
  9. ^ a b c d Hassan, Yasmine (January 14, 2018). "Meet Egypt's tourism minister, former monetary policy maker". Egypt Today. Retrieved April 1, 2019.
  10. ^ Al Sherbini, Ramadan (June 21, 2018). "Ministerial portfolios boost Egyptian women's gains". Gulf News. Retrieved April 1, 2019.
  11. ^ "Rania Al-Mashat to be new senior advisor to IMF". Albawaba. July 31, 2016. Retrieved April 1, 2019.
  12. ^ Tawfeek, Farah (January 15, 2018). "Meet Rania Mashat, Egypt's first female Tourism Minister, set to revolutionize the industry". Egypt Independent. Retrieved April 1, 2019.
  13. ^ El-Wardany, Salma; El-Sayed, Ahmed Khalil (January 14, 2018). "Egypt Replaces Tourism Minister in Reshuffle". Bllomberg. Retrieved April 1, 2019.
  14. ^ a b Nugali, Noor (November 26, 2018). "Exclusive: Egypt's first female Tourism Minister talks about Red Sea project and future plans". Arab News. Retrieved April 1, 2019.
  15. ^ Al-Youm, Al-Masry (October 7, 2018). "Ministers of tourism, antiquities escort Melania Trump to Pyramids". Egypt Independent. Retrieved April 1, 2019.
  16. ^ "Egypt's Grand Museum to be run by private sector: Min. of Tourism". Egypt Today. January 25, 2019. Retrieved April 1, 2019.
  17. ^ Taylor, Ian (January 25, 2019). "Al Mashat to address World Tourism Forum". Travel Weekly. Retrieved April 1, 2019.
  18. ^ "Abu Dhabi Islamic Bank Egypt appoints Egypt's Minister of International Cooperation Rania Al-Mashat as board member – The North Africa Post". Retrieved 2023-08-15.
  19. ^ "StackPath".
  20. ^ "Rania Al-Mashat awarded 2022's most visionary, outstanding Int'l Cooperation Minister in Africa". EgyptToday. 2022-12-14. Retrieved 2023-02-23.
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