Al Tayer to participate in spring meetings of IMF and WBG in Washington DC

Obaid bin Humaid Al Tayer, Minister of State for Financial Affairs, will head the UAE delegation participating in the spring meeting for the International Monetary Fund (IMF) and the World Bank Group (WBG) which will be held from April 15th - 17th in Washington DC.

Al Tayer will also lead the Arab Group at the International Monetary and Financial Committee (IMFC). He will hold a number of bilateral meetings aimed at strengthening the UAE’s relations with IMF and WBG.

The UAE delegation will include Khalid Ali Al Bustani, Assistant Under-Secretary of International Financial Relations Sector in the Ministry of Finance (MoF), Ali Hamdan Ahmed, Director of International and Regional Financial Organisations Department and Hamad Issa Al Zaabi, Director of the Office of the Minister of State for Financial Affairs.

On the occasion, Al Tayer said, "UAE is committed to work alongside different countries and international organisations to discuss the latest regional and global developments and exchange expertise. We believe in the importance of joint efforts to promote economic growth, create the appropriate environment to achieve sustainable economic development and investment, and activate the plans and strategies that aims to eliminate poverty in different countries in the world."

The first day of the spring meetings will witness speeches from the Chairman of the Board of Governors, President of WBG, and the Managing Director of IMF. The Development Committee and the IMFC meetings will be held during the second day, which will review the IMFC’s reports submitted to the Fund’s Board of Governors. The meeting will also discuss prospects of the global economy, developments in financial markets and the Fund’s shares and votes.

It is scheduled for Al Tayer and his delegation to hold, alongside their participation in the spring meetings, a number of meetings with international specialists, including Christine Lagarde, the Managing Director of IMF, Dr. Hazem Al Beblawi, Executive Director of the IMF, Dr. Mirza Hasan, Executive Director of the Arab Group at WBG, and Zeine Zeidane, Head of the IMF mission for Article IV discussion. The delegation will also participate in a series of seminars, sessions and closed meetings that aim to discuss topics relevant to international financial and monetary issues.

In response to an invitation from the IMF, Al Tayer will participate in a book launch ceremony on the economic diversification in GCC countries, where HE will deliver a speech highlighting UAE’s leading experience in this field.

The IMF and WBG’s yearly spring meetings gather central bank governors, finance and development ministers, senior officials from the private sectors, and academics to discuss global concerns including global economic prospects, poverty eradication, economic development and aid effectiveness. The most significant meetings of this event will include the joint development committee between the IMF and WBG, and the Fund’s IMFC. Regional seminars, media briefings, press conferences and multiple activities will also be held with a focus on the global economy, international development and global financial markets.

Source:WAM