A delegation from the UAE, headed by HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs, will be taking part in the annual meeting between the World Bank and the International Monetary Fund (IMF) taking place in Washington from September 23- 25, 2011.
HE Al Tayer will be presenting a speech on the world monetary system, the status of financial markets, and credit risks in the presence of the International Monetary and Financial Committee (IMFC), which is the primary advisory body of the IMF Board of Governors. HE will also be participating in the G20 meeting taking place on the sidelines of the annual meeting which will be addressing recent economic developments in the Arab world and on an international level. The UAE aims to promote economic cooperation among Arab states through presenting its propositions and initiative suggestions at both the G20 and World Bank-IMF meetings.
Commenting on the significance of the UAE’s participation in the annual meeting, HE Al Tayer said: “Through attending prominent international meetings, the UAE aims to strengthen its ties and enhance its relations with other countries and with prominent international organizations. It also aims to positively contribute to decisions made regarding the global economy and economic development mechanisms.”
“Our participation in the World Bank-IMF Annual Meeting follows our hosting of The Exceptional Meeting for the Council of Arab Ministers of Finance earlier this month. The meeting was held to aid in developing and enhancing Arab economies and to promote inter-Arab trade. The Abu Dhabi Initiative presented at the meeting is the first effort of its kind in the region, and addresses all the prominent socioeconomic issues facing the Arab world,” HE Al Tayer added.
The World Bank-IMF Annual Meeting will be focusing on a number of important international issues such as recent global economic developments, the overall performance and potential risks for international financial markets in addition to following up on the IMF’s activities.
