Ayman Soliman Resigns as Head of Egypt's Sovereign Wealth Fund

Three Sources Confirm Departure Following Ministerial Reshuffle

Ayman Soliman, the head of Egypt's $12 billion sovereign wealth fund, has resigned, according to three sources familiar with the matter.

His resignation comes after a series of ministerial reshuffles amid a wider economic shake-up in Egypt.

Economic Restructuring in Egypt

Soliman's departure is part of a larger restructuring of the Egyptian government, as the country grapples with economic challenges:

• Egypt has recently secured a $3 billion loan from the International Monetary Fund (IMF).
• The loan is contingent on Egypt implementing economic reforms, including reducing subsidies and privatizing state-owned enterprises.

Sovereign Fund Role in Economic Policy

The Sovereign Fund of Egypt (TSFE) plays a significant role in the country's economic policy:

• The fund invests in strategic sectors, including infrastructure, energy, and tourism.
• Its investments are intended to generate revenue and support economic growth.

Future of TSFE Under New Leadership

It is unclear who will succeed Soliman as head of the TSFE.

His resignation raises questions about the fund's future direction and its role in Egypt's economic reforms.