An appropriate platform dedicated to the ministers of finance and economy of Arab countries in order to coordinate and consult on financial and monetary issues, this Council aims to promote the sharing of experiences in public finance policies at the level of Arab countries and to coordinate positions on economic and financial issues at the level of international forums and support efforts to stimulate inter-Arab investments.
In a speech delivered on behalf of the Arab finance ministers, Fattah said that the global economy and the economies of the Arab world were facing many challenges and economic shocks, requiring a series of measures on the public finance front to preserve economic and financial stability and protect the most vulnerable groups.
These measures, she continued, have had a negative impact on the situation of public finances in many Arab countries, as evidenced by the tightening of budgetary margins and the increase in indebtedness, noting that the recent rise in interest rates has exacerbated the negative effects of these developments, particularly in terms of economic growth and sustainability of public debt, and sometimes on investor confidence in the region’s economic stability.
Ms. Fattah noted that the meeting’s agenda provides an opportunity to discuss priority topics and current developments and challenges, in addition to the role that public finance policies can play in Arab countries to address these challenges, stimulate comprehensive and sustainable growth and support economic and financial stability.
In the wake of crises and geopolitical developments, the Arab region is facing growing debt challenges, which requires comprehensive strategies focused on strengthening economic stability and sustainable development, as well as promoting international and regional cooperation to alleviate financial pressures and build capacities to face future challenges, the minister noted.
Organized under the auspices of the Arab Monetary Fund, this meeting was marked by the participation as observers of representatives of the League of Arab States, the Arab Fund for Economic and Social Development (AFESD) and Arab executive directors within the International Monetary Fund and the World Bank Group.
2024-09-26 07:31:38