UAE heads Arab Group at International Monetary and Financial Committee meeting at the IMF

WAM WASHINGTON, 15th April, 2014 (WAM) — The U.A.E. has taken part in semi-annual meetings of the International Monetary Fund (IMF) and World Bank which recently took place in Washington.

The state delegation also headed the Arab Group at the International Monetary and Financial Committee meeting at the IMF, where a series of meetings were held in order to strengthen ties between the U.A.E., IMF and World Bank.

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, led the U.A.E. delegation.

Commenting on the U.A.E.’s participation in the IMF and World Bank meetings, Al Tayer said, “The U.A.E. seeks to maintain close ties with international financial organisations and bodies, in order to promote global economic growth, exchange experiences of supporting economic development and encourage investments in different countries around the world.” Al Tayer also headed the Arab Group at the International Monetary and Financial Committee meeting at the IMF, which coincided with the IMF and World Bank’s semi- annual meetings. His opening speech included five main topics which covered the global economy and member countries’ policies, the IMF’s role and its work priorities, developments in the Middle East region and the Fund’s role in strengthening it, along with the IMF’s support of Arab countries in transition and IMF quota and governance reforms.

In addition, Al Tayer participated in the Finance Ministers and Central Bank Governors of Arab Countries meeting along with Christine Lagarde, Managing Director of the IMF. He met with Dr. Abdul Shakur Shaalan, Executive Director of the Arab Group at the IMF and Dr. Mirza Hassan, Executive Director of the Arab Group at the World Bank.

During the meetings, the Ministry of Finance (MoF) signed an agreement to provide all U.A.E. authorities with technical support from the World Bank. Another Memorandum of Understanding (MoU) was signed to provide federal government employees with training and development, introducing them to International Finance Corporation (IFC) expertise, project management, liquidity management, human resources, financial policies and international relations.

WAM/AAMIR/Moran

Leave a Reply