Egyptian President Abdel Fattah al-Sisi has inaugurated a new government on Wednesday, just a few months after beginning his third six-year term. The country is facing a severe economic crisis.

The 30-member cabinet, led by Prime Minister Moustafa Madbouly, includes a new finance minister and new faces at the foreign and defense ministries. During a ceremony broadcast live on state television, four women were sworn in as new ministers.

Ahmed Kouchouk, a former deputy finance minister, now heads the finance ministry. His task is to manage Egypt’s struggle against the economic crisis and dire foreign currency shortages. The Egyptian pound has depreciated by two-thirds, and inflation hit a record 40 percent last year.

Badr Abdel Ati succeeds veteran diplomat Sameh Shoukry as foreign minister, while Abdel Majid Saqr replaces Mohammed Zaki at the defense ministry. Among the 20 new ministers sworn in are those for investments and foreign trade, oil, tourism, and electricity.

The new government takes office during a time of regional instability. Egypt is deeply involved in mediation efforts over conflicts on its borders. It has played a pivotal role as a mediator in the Israel-Hamas war and has hosted multiple rounds of ceasefire negotiations.

More than half a million refugees have sought shelter in Egypt from the Israel-Hamas war in the Gaza Strip and more than a year of fighting between the forces of rival generals in Sudan. Sisi appointed Madbouly to form the new government last month following his re-election in December.