Rania Al-Mashat

Rania Al-Mashat

UN Under-Secretary-General & Executive Secretary of Economic and Social Commission of West Asia (ESCWA), Egypt’s former Minister of Planning, Economic Development & International Cooperation and former Minister of Tourism

Rania Al-Mashat is an international expert in economic diplomacy, bringing over 25 years of experience in macroeconomic policy; central banking and monetary policy frameworks, sustainable economic and social development; structural and institutional reform, development cooperation, development and climate finance, driving climate action and gender equality through international cooperation and partnerships. An Egyptian national, who served for eight consecutive years (2018-2026) as Minister across three key portfolios: Tourism (first female), International Cooperation, and Planning, Economic Development & International Cooperation. Before her ministerial positions, Ms. Al-Mashat served as Sub-Governor for Monetary Policy at the Central Bank of Egypt (2005-2016), where she played a key role in modernizing the bank's monetary policy strategy. Her experience also includes working as Advisor to the Chief Economist and Senior Economist at the International Monetary Fund (IMF) in Washington, D.C (2016-2018, 2001-2005). She has been a board member and advisory member of several international alliances, as well as international financial and development institutions. Ms. Al-Mashat has operated at the intersection of policy, finance, international and development cooperation and had to manage complex domestic and geopolitical dynamics that influence institutional strategy and execution, while safeguarding predictability and credibility; all while leading institutions during times of change. A strong advocate of multilateralism, she has advanced partnership-driven national and global initiatives, and championed innovative approaches to international cooperation and development finance through country-led multi-stakeholder engagement frameworks. Her academic contributions, including publications with the IMF and the London School of Economics, reflect her commitment to bridging policy, research, and practice. Ms. Al-Mashat is the recipient of numerous international and domestic awards, including the 2025 African Renaissance Leadership Award; the 2025 Global Leadership Award from the Choiseul Institute; the 2025 Africa Political Outlook Prize for Leadership, Governance and Impact; the 2022 Most Visionary and Outstanding Minister of International Cooperation in Africa, awarded by the Elliott School of International Affairs at George Washington University and the GE7 Initiative; the Choiseul Institute’s 100 Africa: Economic Leaders for Tomorrow (2014 and 2015); and the World Economic Forum’s Young Global Leaders (2014). She was also listed among the 50 most influential women in the Egyptian economy in 2015 and 2020. Ms. Al-Mashat holds a PhD and MA in Economics from the University of Maryland, College Park, USA, and a BA in Economics from the American University in Cairo, Egypt. She has completed executive education programs in Leadership and Public Policy from the Harvard Kennedy School, USA and Transformational Leadership from Oxford University's Saïd Business School, United Kingdom.

Areas of Interest:

  • Monetary Policy
  • International Economics

Education:

  • Ph.D., Economics, University of Maryland at College Park, 2001
  • M.A., Economics, University of Maryland at College Park, 1998
  • B.A. Economics, The American University in Cairo, 1995

Experience:

  • UN Under-Secretary-General & Executive Secretary of Economic and Social Commission of West Asia (UNESCWA)
  • Former Minister of Planning, Economic Development & International Cooperation, Arab Republic of Egypt
  • Former Minister of International Cooperation, Arab Republic of Egypt
  • Former Minister of Tourism, Arab Republic of Egypt
  • International Monetary Fund
  • Head of Monetary Policy Stance, Central Bank of Egypt
  • Economist, Vietnam Desk, Asia and Pacific Department (APD), The International Monetary Fund, Washington D.C., USA, Jun.2001-Jul. 2005
  • Economist, India Desk, Asia and Pacific Department, The International Monetary Fund, Washington D.C., USA, Jun.2002-May 2003

Latest Publications:

  • Al-Mashat, Rania, “The Central Bank of Egypt’s Core (Underlying) Measures of Inflation,” The Central Bank of Egypt Working Paper Series, March 2007
  • Al-Mashat, Rania, “The Exchange Rate Pass-through in Egypt,” The Central Bank of Egypt Working Paper Series, November 2006
  • Al-Mashat, Rania, “Estimating the Nominal and Real Money Gaps in Egypt,” The Central Bank of Egypt Working Paper Series, June 2006
The Monetary Transmission Mechanism in Egypt

Areas of Interest: Monetary Policy International Economics Education: Ph.D., Economics, University of Maryland at College Park, 2001 M.A.,... Read More

June, 2008

Working Papers
Annual Conferences
ERF 32nd Annual Conference: After the Shock – Reform, Resilience, and Economic Transformation in MENA

Areas of Interest: Monetary Policy International Economics Education: Ph.D., Economics, University of Maryland at College Park, 2001 M.A.,... Read More

Jun 14, 2026

Conferences
From Data to Policy: Evidence and Insights from The Egypt Labor Market Panel Survey 2023

Areas of Interest: Monetary Policy International Economics Education: Ph.D., Economics, University of Maryland at College Park, 2001 M.A.,... Read More

Nov 24, 2024

Annual Conferences
ERF 29th Annual Conference: The Future of MENA Development Path: Risks and Opportunities in an Emerging World Order

Areas of Interest: Monetary Policy International Economics Education: Ph.D., Economics, University of Maryland at College Park, 2001 M.A.,... Read More

May 04, 2023

Annual Conferences
Revisiting Macroeconomic Management in Times of Crisis and Beyond

Areas of Interest: Monetary Policy International Economics Education: Ph.D., Economics, University of Maryland at College Park, 2001 M.A.,... Read More

Mar 26, 2022

Annual Conferences
ERF 27th Annual Conference: SDGs and External Shocks in the MENA Region: From Resilience to Change in the Wake of COVID-19

Areas of Interest: Monetary Policy International Economics Education: Ph.D., Economics, University of Maryland at College Park, 2001 M.A.,... Read More

May 17, 2021

Initiatives & Partnerships

Data Portal

http://www.erfdataportal.com/index.php/catalog

The Forum

ERF Policy Brief