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Mohamed bin Hadi Al Hussaini meets IMF director

UAE is keen to develop bilateral relations and enhance cooperation with various regional and international financial institutions such as the IMF

Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, on Tuesday met Dr Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund (IMF).

The meeting held at the Ministry of Finance HQ in Dubai discussed the opportunities and challenges facing the Middle East and North Africa region in light of the current global developments, and a number of issues and topics of common interest.

The meeting was attended by Ali Abdullah Sharafi, assistant undersecretary of the International Financial Relationship Sector at MoF, and Moza Saeed Almatrooshi, head of the International Organisations Department at MoF. Representing the IMF was Ali Al Eyd, International Monetary Fund (IMF) Article IV Consultations’ Mission Chief, and Francisco Parodi, assistant to the director, Middle East and Central Asia Department.

During the meeting, Al Hussaini stressed the importance of the role that the IMF plays in enhancing the safety of the global economy and creating a stable economic and financial environment, especially in light of the exceptional circumstances the world is witnessing.

"The UAE is keen to develop bilateral relations and enhance cooperation with various regional and international financial institutions such as the IMF. This cooperation will drive growth and accelerate global economic recovery. It will also contribute to supporting various plans and directions aimed at achieving sustainable economic and social development regionally and globally," he said.

During the meeting, both parties also deliberated ways to strengthen the strategic relations between the UAE and the IMF, highlighting the need to continue work and coordination in various related events. These will include the upcoming World Governments Summit and 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention on Climate Change (UNFCCC), which will be held in the UAE in 2023. That, in addition to the Annual and Spring Meetings of the International Monetary Fund and the World Bank Group, as well as ways to support the IMF in the field of capacity development.

— muzaffarrizvi@khaleejtimes.com