AMF extends US$1.3 bn in financial facilities to Arab countries in H1, 2020

SourceBusiness Live ME
SectorFinancial Markets

(WAM) — Dr. Abdulrahman bin Abdullah Al Hamidi, Director-General and Chairman of the Board of Directors of the Arab Monetary Fund, AMF, highlighted the fund’s keenness to respond to the needs of Arab countries during the coronavirus pandemic, by providing financial resources to member countries in the form of new loans or withdrawals on existing loans. These financial measures, which will tackle the economic and financial consequences of the pandemic, were valued at US$1.3 billion in the first half of 2020, he added. In his opening speech at the 44th edition of the Council of Governors of the Arab Central Banks and Monetary Authorities, which was held remotely this year, Dr. Al Hamidi said, “The global economy is facing the worst economic crisis after the Great Depression caused by a variety of more...