AMF to start 8th session of Ministers of Finance's Council

The Arab Monetary Fund (AMF) announced that the eighth meeting of the Arab Finance Ministers' Council, which will be held in April 18, in Rabat, will discuss international and regional economic developments and the challenges facing the economies of the Arab countries, headed by the Minister of Finance in the Sultanate of Oman Darwish Ismail Al Balushi,  Arab Ministers of Finance, the Arab League, the Arab Fund for Economic and Social Development and the Arab Executive Directors of the International Monetary Fund (IMF) and the World Bank as observers.

The AMF stressed that the meeting will discuss a working paper on energy support reforms in the Arab countries submitted by IMF, a working paper on the efficiency of public investments in Arab countries, challenges and opportunities presented by the World Bank Group, And a working paper on tax systems and VAT applications in Arab countries submitted by the Arab Monetary Fund.

Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan will brief the G20 priorities and activities and their impact on the economic issues of the Arab countries. The agenda includes discussing the issues proposed for inclusion in the annual message of the World Bank Group President and Director General.

The Board reviews two reports, one on progress in the design of the regional system for clearing and settling the Arab inter-payments, and the second on joint Arab financial bodies on the initiative of the UAE to develop innovative programs to support the Arab countries.

The documents of the meeting include a joint report prepared by the AMF, in cooperation with the World Bank, on the development of pension and pension schemes in Arab countries, in light of the recommendations of the high-level workshop on the subject organized by AMF and the World Bank on 25 and 26 January, in Abu Dhabi. The documents also include a brief report on the results of the Second Forum on Public Finance in the Arab States held on 12 February in Dubai.

Abdulrahman bin Abdullah Al-Humaidi, Director General of the Arab Monetary Fund, said that the Board meeting is an important opportunity to discuss the challenges faced by financial policy makers in the Arab region in the context of regional and international economic and financial developments.