Dr. Al-Mashat was sworn in as Egypts Minister of International Cooperation (MOIC) on December 22, 2019. Prior to this appointment, she was the first woman to serve as Egypts Minister of Tourism between January 2018 and December 2019. Previous positions included Advisor to the Chief Economist of the International Monetary Fund (IMF) between 2016 and 2018, Sub-Governor for Monetary Policy at the Central Bank of Egypt between 2005 and 2016, and Senior Economist at the IMF between 2001 and 2005.
MOIC oversees an active partnerships portfolio exceeding USD25 billion and is mandated to strengthen Egypts inclusive multilateral, regional and bilateral engagement with development partners, governments, global policy makers, the United Nations, private sector and civil society to deliver the National Economic Agenda, consistent with the UN SDGs, aimed at achieving a circular economy.
As Minister of Tourism, Dr. Al-Mashat launched the EgyptTourism Reform Program (ETRP), a
structural reform program designed as a comprehensive, coherent, and consistent policy framework aimed at unleashing the potential of Egypts tourism sector, which represented 15% of the countrys GDP. With the implementation of ETRP, tourism revenues recorded the highest in Egypts history, accelerating by 66% from USD7.2 billion in January 2018 to USD13.1 billion in December 2019. ETRP encouraged the recognition of tourism globally as a driver for sustainable development through its identified structural reform pillars, implemented in collaboration with multiple local, regional, and global stakeholders, which was reflected in the World Economic Forum 2019 Travel and Tourism Competitiveness Report, where Egypt scored the 4th highest performance improvement. Moreover, Egypt ranked first in Africa on Country Branding through strategic positioning and strengthened presence on digital and social landscape.
Prior to that, she was Advisor to the Chief Economist of the International Monetary Fund in Washington DC. She specialized in central banking issues, including designing monetary policy frameworks, defining financial stability and macro-prudential tools, institutionalizing communications through improved transparency, and led country mission teams on these topics. Moreover, she was involved in supporting the International Monetary Funds multilateral surveillance and worked on a consolidated technical assistance approach monetary policy and central banking issues, provided by the Research Department and other Departments within the International Monetary Fund, to streamline delivery. She contributed several chapters to the International Monetary Funds book, titled, «Advancing the Frontiers of Monetary Policy» in 2018, edited by Maurice Obstfeld the Chief Economist at the time.
Dr. Al-Mashat has received a number of international and domestic awards and recognitions; the «2019 Global Champion Award» from the World Tourism and Travel Council for launching the EgyptTourism Reform Program that has created resilience to the sector; the «2019 Global Leaders Award for Outstanding Contribution to the Industry», as the Ministry of Tourism has contributed the most to the global travel and tourism industry in 2018 and 2019 as Egypts tourism revenues recorded a new historical high; the «2019 United Nations World Tourism Organization Destination Marketing Award», for best promotion video for a destination; and the «2019 Leadership in Tourism Award» from the International Institute for Peace and Tourism. She was selected among the top 50 most influential women in the Egyptian economy in 2015; the 2014 and 2015 «Choiseul Institute 100 Africa: Economic Leaders for Tomorrow»; the 2014 Young Global Leaders (YGL) by the World Economic Forum (WEF); the 2014 top 10 most powerful women in the Egyptian Banking Sector in the survey conducted by the Bassera Center. She was also selected to the Government of Frances 2013 International Visitor Leadership Program; the 2013 Distinguished Alumni Award, School of Business, American University in Cairo, and the 2004 Ibn Khaldoun prize for the best paper on one or more Middle Eastern countries given by the Middle East Economic Association. The paper titled «Monetary Policy and Public Debt Management: An Empirical Assessment of the Egyptian Experience».
She received her PhD and MA in Economics from UMCP. Her fields of specialization are applied macroeconomics, international economics and monetary policy with a number of publications in these areas. She completed Executive Education certificates in Leadership and Public Policy from Harvard and Oxford Universities. She received her BA in Economics from AUC.