Sunday, October 8, 2023 – 4:40 p.m
Abu Dhabi, 8 October / WAM / The UAE, represented by the Ministry of Finance, announced its participation in the meetings of the World Bank Group and the International Monetary Fund in Marrakesh, the Kingdom of Morocco, from 9 to 15 October 2023.
His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, heads the UAE delegation participating in the meetings, which includes His Excellency Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, His Excellency Ibrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the United Arab Emirates, and Hamad Issa Al Zaabi. Director of the Office of His Excellency the Minister, Azza Ali Al Jasmi, Director of the Government Communications Department, Thuraya Hamid Al Hashemi, Director of the International Financial Relations and Organizations Department, and a number of specialists from the Ministry of Finance and the Bank.
The UAE delegation participates in the activities of the annual meetings of the International Monetary Fund and the World Bank Group, which include the plenary session of the Development Committee, which is chaired by His Excellency Mohammed bin Hadi Al Husseini, the fourth meeting of finance ministers and central bank governors under India’s presidency of the G20, the general annual meetings, and the plenary session of the International Committee. For monetary and financial affairs, the meeting of His Excellency the Ministers of Finance and Arab Central Bank Governors with the President of the World Bank Group, and the meeting of the Director of the International Monetary Fund with the countries of the Middle East, North Africa, Afghanistan and Pakistan.
The UAE delegation will hold a number of bilateral meetings with officials of international institutions and organizations, and the UAE will also host a reception for UAE banks.
His Excellency Mohammed bin Hadi Al Husseini praised the ability of the Kingdom of Morocco to quickly recover from the great injury that befell it, and its commitment to continue hosting this event, which is being held for the first time in nearly fifty years on the African continent, with whose countries the UAE has close relations, and is working to strengthen efforts to confront various… Challenges, primarily health, climate change and food security. His Excellency stressed that the world today needs to unify efforts, close ranks, and combine forces in order to establish effective and comprehensive solutions to all development needs in a sustainable manner that provides the needs of future generations, which is what the Ministry is working on by preparing an action program and hosting finance ministers from countries around the world to attend the Finance Day, which will be held in Dubai on December 4 during the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28).
His Excellency Mohammed bin Hadi Al Husseini also chairs the countries of the Arab Group in the meeting of the International Monetary and Financial Committee (IMFC) held on the sidelines of the event. The meeting addresses the latest developments in the international monetary and financial system, the main strategic issues, economic growth in the region and future prospects, and the protection of the macroeconomy and financial stability. Global financial policy requirements to combat inflation, maintain debt sustainability, and consolidate sustainable growth.
Representatives from 189 member states of the International Monetary Fund and the World Bank will participate in the Marrakesh meetings, including public sector officials from finance ministries and central banks, parliamentarians, representatives of the private sector and academics, to discuss the latest global economic developments, the challenges facing the macroeconomy, and developments in digitization and financial services technology. And climate issues, in addition to holding seminars, sessions and events focusing on the global economy, international development, and global financial markets. The meetings also discuss the roadmap of the World Bank Group and the International Monetary Fund and how to develop their missions and operations. Meetings of the Joint Development Committee and the International Monetary and Financial Affairs Committee will be held to discuss what has been accomplished.
Reda Abdel Nour/Rami Samih
2023-10-08 12:43:57
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