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Youssef Boutros Ghali

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Youssef Boutros Ghali

Youssef Boutros Ghali (Egyptian Arab.يوسف بطرس غالى, DMG Yūsuf Buṭrus Ġālī; born 20 August 1952 in Cairo) is a former Egyptian politician of the National Democratic Party of Egypt.

Life

Youssef Boutros Ghali is a nephew of Boutros Boutros-Ghali, great-grandson of Boutros Ghali and comes from a family of Coptic Christians.

He received a Bachelor of Arts degree from Cairo University in 1974 and a Doctor of Economics degree from the Massachusetts Institute of Technology in 1981 on the topic of debt restructuring.

From 1981 to 1986 he was employed at the IMF working on the Latin American debt crisis. From 1986 he taught at Cairo University and the American University in Cairo.

In 1987 and 1991 he was involved in debt rescheduling agreements with the IMF and the Paris Club.

From 1986 to 1993, he advised Prime Minister Atif Muhammad Nagib Sidqi and the head of the Central Bank of Egypt on economic matters. In 1993, he then (officially) joined Sidqi’s cabinet as Minister of International Cooperation. He held this post until 1996.

In the Ganzuri I cabinet appointed by Mubarak on 11 January 1996, Boutros Ghali headed the Ministry of Economy (from 1997 Ministry of Economy and Foreign Trade). He held this post – also in the Abaid cabinet (10/1999 – 07/2004) – until 2004. In the Nazif cabinet that followed Abaid (07/2004 – 01/2011), Boutros Ghali took over the Ministry of Finance. He held this post until 29 January 2011 when the Nazif cabinet resigned due to the revolutionary events in Egypt and was replaced by the Shafiq cabinet (01/2011 – 03/2011). He was not an elected member of parliament (East Cairo District of Shobra) until 2000.

In 2003, Youssef Boutros Ghali opposed government intervention to stabilize the exchange rate of the Egyptian pound. As finance minister, he focused on deficit reduction, customs and tax reform, and privatization of public banks.

Boutros Ghali advocated the reduction of trade barriers, participated in the Seattle, Doha, Cancun ministerial meetings of the World Trade Organization, and was instrumental in the course of the Doha Round. In 1998, he contributed to the conclusion of the Euro-Mediterranean Partnership between Egypt and the European Union and the Trade and Investment Framework Agreement, a bilateral free trade agreement between the US and Egypt. In 2004, he led the negotiations on the Qualifying Industrial Zone Protocol between the Egyptian, Israeli and US governments.[1]

From October 2008 to February 4, 2011, Boutros Ghali chaired the International Monetary and Financial Committee.[2]

Allegations of corruption

Shortly before Mubarak resigned under pressure from mass protests on 11 February 2011, Boutros Ghali absconded abroad. According to media reports, he was temporarily in the Lebanese capital Beirut.[3][4][5][6] Youssef Boutros Ghali repeatedly denied the charges against him as politically motivated and was subsequently granted political asylum and permanent right of residence in the United Kingdom. An International Arrest Warrant was not executed in Paris in 2014 with reference to Boutros Ghali’s asylum status. The revocation of his Egyptian citizenship was rejected by the Egyptian State Council in 2018.[7]

Private

Boutros Ghali is married and has a son.

Individual references

  1. Protocol between the government of the Arab Republic of Egypt and the government of the State of Israel on qualifying industrial zones.(PDF; 35.4 KB) Retrieved 18 May 2015 (English).
  2. Youssef Boutros-Ghali Resigns from the Chairmanship of the IMFC – International Monetary Fund, February 4, 2011
  3. Tagesschau 4 June 2011: Verdict against former Egyptian Finance Minister(Memento of 7 June 2011 in the Internet Archive)
  4. NZZ 4 June 2011: Egyptian ex-finance minister sentenced. 30 years imprisonment for Yussef Butros Ghali
  5. Reuters 5 June 2011: Egypt’s ex-finance minister sentenced to 30 years in prison
  6. Jerusalem Post June 4, 2011: Former Egyptian finance minister sentenced to 30 years
  7. Egypt today 23 April 2018: State Council refuse revocation of citizenship by Youssef Ghali
Predecessor Office Successor
Egyptian Minister for International Cooperation
1993 to 1996
Egyptian Minister of Economy in the Ganzuri I Cabinet
1996 to 1997
Egyptian Minister of Economy and Foreign Trade in the Ganzuri I Cabinet
1997 to 2001
Egyptian Minister of Foreign Trade in the Abaid Cabinet
2001 to 2004
Rashid Mohamed Rashid
Medhat Hassanein Egyptian Minister of Finance in the Nazif cabinet
2004 to 29 January 2011
Samir Radwan