Emirates News Agency – UAE attends World Bank, IMF meetings in Marrakech

by MMC
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ABU DHABI, 8th October, 2023 (WAM) — The United Arab Emirates, represented by the Ministry of Finance, announced its participation in the annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) taking place in Marrakech, Kingdom of Morocco, from October 9 to 15, 2023.
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, will lead the UAE delegation attending the meetings, which includes Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, Ebrahim Al Zaabi, Deputy Governor for Monetary Policy and financial stability of the Central Bank of the United Arab Emirates, Hamad Al Zaabi, Director of the Office of the Minister of State for Financial Affairs, Azza Ali Aljassmi, Director of the Government Communications Department at the Ministry of Finance, Thuraiya Hamid Alhashmi, Director of the department of international financial relations and organizations of the Ministry of Finance and several specialists from the Ministry of Finance and the Central Bank of the United Arab Emirates.
As part of its participation in the annual meetings of the IMF and WBG, the UAE delegation is participating in the World Bank Group Development Committee, chaired by Mohamed bin Hadi Al Hussaini, the fourth meeting of Ministers of Finance and G20 central bank governors under Indian presidency. of the G20, the Annual General Meetings, the International Monetary and Financial Committee, the meeting of finance ministers and governors of Arab central banks with the President of the World Bank Group and the meeting of the Managing Director and the Chairman of the Board of administration of the International Monetary Fund with countries in the Middle East, North Africa, Afghanistan and Pakistan.

The delegation will also hold a series of bilateral meetings with heads of international institutions and organizations, and the UAE will host a reception for UAE banks.
Al Hussaini praised Morocco’s ability to quickly recover from the sad earthquake that struck, and its commitment to continue hosting this event, which is being held for the first time in almost fifty years on the African continent. The UAE is working closely with countries in Africa to strengthen efforts to address various challenges, chief among them health, climate change and food security.
He stressed that the world must join forces to establish effective and comprehensive solutions to sustainably address all development needs and meet the needs of future generations. The ministry is working to bring together finance ministers from around the world to attend the Finance Day to be held in Dubai on December 4, on the sidelines of the 2023 United Nations Climate Change Conference (COP28).
Mohamed Al Hussaini also chairs the Arab Group countries at the meeting of the International Monetary and Financial Committee (IMFC), which will be held on the sidelines of the annual meetings.

It will address the latest developments in the international monetary and financial systems, key strategic issues, economic growth in the region and future prospects, protection of the overall economy and global financial stability, fiscal policy requirements for combating inflation and maintaining debt sustainability, and consolidating sustainable debt. growth.
Reinforcement
Delegates from 189 IMF and WBG member countries, including public sector officials from finance ministries and central banks, parliamentarians, private sector representatives and academics, will attend the annual meetings in Marrakech.

They will discuss the latest global economic developments, challenges facing the economy as a whole, developments in digitalization and financial services technology, climate issues, in addition to organizing seminars, sessions and events focused on the global economy, international development and global financial markets.

The meetings will also discuss the roadmap of the World Bank Group and the International Monetary Fund and how to develop their tasks and operations.

Meetings of the World Bank Group Development Committee and the International Monetary and Financial Committee will be held to discuss what has been accomplished.

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