The Arab Monetary Fund adopts a new five-year plan to enhance performance efficiency
Dubai, February 3, 2017 / WAM / His Excellency Dr. Fahd bin Mohammed Al Turki, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, confirmed that the Fund’s priorities focus on providing consultations and capacity building, providing financing programs, and supporting economic research in Arab countries.
Al Turki said, in a statement to the Emirates News Agency, WAM, on the sidelines of the World Government Summit, which began today in Dubai, that the summit represents a prominent annual event hosted by the UAE, and provides an important platform for dialogue and exchange of experiences between countries.
He explained that the Arab Monetary Fund is actively participating in the work of the summit, by organizing the Public Finance Forum in cooperation with the Ministry of Finance in the UAE and the International Monetary Fund, and in the presence of Arab finance ministers and Arab central bank governors, where the challenges facing Arab countries and the repercussions of global economic developments on the region were discussed.
He pointed out that the Fund, as a regional institution, is concerned with providing consultations and building capabilities through training and technical assistance, in addition to preparing financing programs to support budgets, the balance of payments and the external account of Arab countries, in addition to preparing economic research and strengthening partnerships with regional and international institutions.
He added that the fund launched a new five-year strategy during 2024 aimed at increasing the effectiveness of its performance, coinciding with preparations for celebrating the 50th anniversary of its founding in 2026, explaining that the fund’s capital doubled during the period from 2024 until today.
He pointed out that the Fund worked to address the troubled debts of some countries by rescheduling them in agreement with the countries concerned, which contributed to reducing the rates of troubled debts.
He explained that the Fund plays the role of the technical secretariat of the Council of Arab Finance Ministers and the Council of Arab Central Bank Governors, allowing the exchange of experiences and discussion of economic challenges.
Regarding digital transformation and artificial intelligence, he pointed out that they represent important tools to support financial and monetary stability, whenever they are used within appropriate governance frameworks that ensure privacy and cybersecurity.
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