Economic Research Forum (ERF)

Rania Al-Mashat

Founding contributors

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

Rania A. Al-Mashat was appointed UN Under-Secretary General and Executive Secretary of the United Nations Economic and Social Commission for Western Asia (ESCWA) on April 20, 2026. 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. She 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, 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, international financial and development institutions. 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 a proven track record of advancing impactful, partnership-driven national and global initiatives and has advanced innovative approaches to international cooperation and development finance through country-led multi-stakeholder engagement frameworks. She 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 and completed executive education programs in Leadership from the Harvard Kennedy School and Oxford University's Saïd Business School. Her academic contributions, including publications with the IMF and the London School of Economics, reflect her commitment to bridging policy, research, and practice.

Content by this Author

Inflation targeting and exchange rate flexibility in Egypt

The degree of exchange rate flexibility within an inflation targeting framework matters in emerging economies. This column reports research that quantifies the impact of different approaches to the conduct of monetary policy on inflation and output variability in Egypt.

Economic policy management: a new framework for MENA countries

There is a clear need for MENA countries to create policy frameworks that will improve the credibility and effectiveness of economic policy-making. This column outlines the main institutional weaknesses that must be addressed, and the six key elements of a well-structured framework for economic policy management.

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Untapped talent, unrealised growth: jobs and women in the MENAAP region

Only around one in five women of working age participate in the labour markets of the Middle East, North Africa, Afghanistan and Pakistan. As this column explains, the region can no longer afford to leave half its human capital underused. Expanding women’s labour force participation is central to growth and resilience in the face of looming demographic change.

Closing the gender gap in political participation in MENA

Women across the Middle East and North Africa participate less than men in politics – not only in political parties and elections, but also in petitions, boycotts, protests and strikes. This column reports evidence from ten countries showing that differences in education, employment and political attitudes explain part of this disparity, yet a significant gender gap remains.

Labour demand and informal employment in Egypt’s manufacturing sector

Egypt’s manufacturing sector faces a dual challenge of weak job creation and persistent informality. Drawing on survey evidence on business behaviour and labour market dynamics, this column explains why job creation is limited and informal work remains such an integral part of how firms organise production. The generation of more formal jobs requires a comprehensive policy approach, one that goes beyond enforcement of labour regulations to reshape the economic environment in which firms and workers make decisions.

Challenges of conflict and industrial policy for development

How effective is industrial policy as a tool for long-term economic growth and development? Against the backdrop of the conflict currently engulfing the Middle East, North Africa, Afghanistan and Pakistan (MENAAP), a new report argues that while industrial policies are widely used across the region, they can only address market failures and foster growth when they are aligned with country capabilities, implemented with accountability and backed by capable institutions.




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