Arab countries call for international institutions to contribute to reconstruction efforts

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Qatar participates in meetings of finance ministers and financial institutions in Rabat

Arab countries call for international institutions to contribute to reconstruction efforts

Recommendations for diversification of sources of income and control of public finances

Developing capital markets and improving the business climate

Promoting economic and financial integration to increase interregional investments

 

 

 

Rabat - flag: the State of Qatar participated in the meetings of the eighth session of the Council of Arab finance ministers, which was held in Rabat , Kingdom of Morocco, with a delegation headed by HE Mr. Ali Shareef Al Emadi, Minister of Finance. The Minister of Finance also headed the delegation of the State of Qatar to the annual joint meetings of the Arab financial bodies. The delegation included HE Sheikh Abdullah bin Saud Al Thani, Governor of the Qatar Central Bank, during the two-day meetings, 18-19 April 2017, where the annual budget of the Arab bodies and the funding projects for 2017 were discussed and evaluated.

 

The delegation participated in the meetings which include the annual meeting of the Board of Arab Investors for Investment Guarantee and Export Credit, the annual meeting of the Board of Governors of the Arab Monetary Fund, the annual meeting of the Board of Governors of the Arab Bank for Economic Development in Africa and the annual meeting of the Board of Governors Arab Investment and Agricultural Development.

On the sidelines of the meeting, HE Ali Shareef Al Emadi, Minister of Finance and HE Saad Eddin Al Othmani, Prime Minister of Morocco, discussed the bilateral cooperation between the State of Qatar and the Kingdom of Morocco in various fields.

The meeting was an occasion to stress the importance of brotherly relations between the Kingdom of Morocco and the State of Qatar. The two sides noted the level of fruitful economic cooperation between the two countries, which is reinforced by a number of cooperation agreements covering various economic and social fields.

The final statement of the Council of Arab Ministers of Finance stressed the importance of maintaining economic stability in supporting efforts to achieve the most comprehensive economic growth in the Arab region. He stressed the importance of the role and contribution of international institutions in reconstruction efforts in Arab countries suffering from conflicts.

The Council expressed the hope that the IMF and the World Bank would contribute to the efforts of Arab countries affected by conflict and war to design and implement their reconstruction programs, face rising numbers of displaced persons and deterioration of living standards and allocate more financial resources commensurate with the scale of programs and projects required. To support the efforts of the low-income, high-income Arab countries to reduce their debt burden.

 The Council also discussed relations with the international financial institutions in the light of the situation and developments in the Arab region and the economic and social repercussions thereof. He called for diversifying sources of income and controlling public finances at a pace conducive to growth, raising spending efficiency, developing capital markets and improving the business environment. And promote regional economic and financial integration, to promote Arab investments and to contribute to attracting foreign investment.

The Arab finance ministers also stressed the importance of continuing to deepen cooperation between international financial institutions and Arab financial institutions, welcoming the level of cooperation between the Arab Monetary Fund and the International Monetary Fund at the level of the Public Finance Forum.