Newly appointed Minister of Finance Ali Sabry says he has the full backing of the President, the Prime Minister and the ruling party leaders.
Last week, Minister Sabry tendered his letter of resignation to the President within 24 hours of being appointed to the Finance Ministerial portfolio.
Speaking to Reuters, the Minister said he was not prepared to take up a ministerial post when he visited the Presidential Secretariat last week for talks with the Head of State, however, considering the situation of the country and requests from various corners, he decided to continue in the post.
Faced with the challenge of immediately finding $3 billion to pay for essential goods, Minister Ali Sabry described it as a herculean task.
The Finance Minister must also lead what are expected to be complicated negotiations with the International Monetary Fund over a much-needed loan programme.
Minister Sabry added that he has full faith in a team of key officials, including a new Central Bank Governor and Treasury Secretary, alongside an advisory committee who will be holding talks with the IMF.
The Minister has added he is willing to do the job at hand as long as it takes and resolve the present financial crisis.