Arab Monetary Fund hosts seventh Arab Finance Ministers Council meeting

MANAMA, 5th April, 2016 (WAM) — The Kingdom of Bahrain is hosting tomorrow the seventh Arab Finance Ministers Council meeting chaired by Sudanese Minister of Finance and Economic Planning Badr-Eddin Mahmoud Abbas, along with participation of Arab finance ministers.

The Arab League as observer, the Arab Fund for Economic and Social Development, AFESD, and Arab executive directors at the International Monetary Fund, IMF, and the World Bank are also attending the meeting.

The session will discuss various key topics, including report of Board Chairman of Arab Monetary Fund, AMF, Dr. Abdulrahman Abdullah Al Hamidi, regional and international economic developments and challenges fronting the economies of Arab countries. the meeting will also discussed a working paper themed “Development of Economic Diversification Policy in oil-producing Arab countries. The meeting will also discuss another paper presented by the World Bank titled “Requirements for boosting labour market resilience in Arab countries to tackle unemployment.

Saudi Finance Minister Dr. Ebrahim Abdulaziz Al Assaf will present a brief on latest developments related to priorities and activities of the G20 nations and its impact on economic issues and situations of the Arab economies.

The meeting will discuss proposals to be included within the Council’s annual letter to the World Bank and the IMF.

The council’s meeting presents an important opportunity for discussion of challenges facing financial policy makers in the Arab region in view of regional and global economic and financial developments topped by global oil prices slump and poor growth, Dr. Al Hamidi said.