HE Obaid Humaid Al Tayer to participate in the meeting of the governors of Arab Group at the IMF and meet with the Executive Director

HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, is set to attend the meeting of the governors of Arab Group at the IMF today, which is being held alongside the annual meetings of Arab Financial Institutions in Kuwait. HE will hold another meeting with the Executive Director of the Group, to discuss the global economy and the IMF’s support for Arab countries in transition, as well as quota and voice reforms, under the fourteenth general review of the IMF.

The meeting of the governors of the Arab Group at the IMF will address several topics, including the importance for the Executive Director to update members of the Arab Group about matters discussed during IMF meetings as well as to provide advice about the impact of these outcomes. The meeting will also highlight the Arab Group’s commitment to providing continuous support to Arab countries in transition, to the IMF Executive Board.

Commenting on the governors’ meeting, HE Obaid Humaid Al Tayer shed light on the importance of consolidating joint Arab bonds, whereby the UAE is committed to support development projects in Arab countries, either through their own initiatives or those shared regionally and internationally, to promote development and job creation, and reduce poverty. 

The governors will also highlight the importance of the Executive Director’s commitment to constantly address the need to increase the IMF’s support towards the Arab  countries.. During the meeting, the Executive Director is also set to present his plans for strengthening support to Arab states, to reduce poverty rates, support infrastructure projects and provide job opportunities in Arab countries. 

The Arab Group is a member of the IMF’s International Monetary and Financial Committee (IMFC), and  includes the UAE, Kuwait, Oman, Bahrain, Egypt, Qatar, Lebanon, Jordan, Iraq, Libya, Yemen, Syria and the Maldives.