Qatar attends Arab Ministers of Finance meetings
21 Apr 2017 - 1:11
Qatar took part in the meetings of the 8th Ordinary Session of the Council of Arab Ministers of Finance, being held in Rabat, Morocco.
Qatar's delegation to the event was led by the Minister of Finance H E Ali Shareef Al Emadi, who also chaired the Qatari delegation to the annual meetings of the Arab financial institutions, which took place in Rabat.
The meetings discussed a number of issues including the ratification of the annual budget of the Arab bodies and the funding projects for 2017 along with an assessment of the current development projects, QNA reported.
In addition to the 8th Ordinary Session of the Council of Arab Ministers of Finance, the Qatari delegation participated in the annual meetings of the Arab Investment & Export Credit Guarantee Corporation, Board of Governors of Arab Monetary Fund, Board of Governors of the Arab Bank for Economic Development in Africa (BADEA) and Board of Governors of the Arab Authority for Agricultural Investment and Development (AAAID).
The final communique of the Council of Arab Ministers of Finance emphasised the importance of maintaining economic stability in supporting the efforts aimed at achieving a comprehensive economic growth in the Arab region.
It stressed the importance of the role and contribution of international institutions in reconstruction efforts in Arab countries suffering from conflicts.
The communique also expressed hope that the IMF and the World Bank will contribute to the efforts of Arab countries affected by conflict and war to design and implement their reconstruction programs; face rising numbers of displaced and deterioration of living standards; allocate more financial resources in accordance with the size of programs and projects required as well as to support the efforts being exerted by low-income and high-debt Arab countries to reduce their debt burden.
The Council also discussed relations with the international financial institutions in light of the situation and developments in the Arab region and the economic and social repercussions thereof. It 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.
The Council called for promoting regional economic and financial integration, developing Arab investments and contributing to attract foreign investment.
The Arab finance ministers also stressed the importance of continuing to enhance cooperation between international financial 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.