UAE participates in International Monetary and Financial Committee meeting

UAE participates in International Monetary and Financial Committee meeting

WASHINGTON, D.C., 15th April, 2023 (WAM) -- The UAE, represented by the Ministry of Finance, participated in the International Monetary and Financial Committee (IMFC) meeting, which was held on the sidelines of the 2023 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Washington, D.C., from the 10th to 16th April.

The meeting discussed the latest developments in the international monetary and financial system, and ways to achieve stability and global economic recovery.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, led the UAE delegation participating in the IMF’s IMFC meeting. Kristalina Georgieva, Managing Director of the IMF attended the meeting, alongside a number of finance ministers from the IMFC member states. Nadia Calviño, Spain’s First Vice President and Minister for Economy and Digitalisation chaired the session.

Al Hussaini thanked Kristalina Georgieva and stressed on the significance of continuous work and constructive coordination with the committee members to achieve economic stability, support low-income countries, maintain growth and prosperity and enhance future readiness.

“The current juncture is difficult for policymakers across the world, as they find themselves faced with significant headwinds. In an environment where public debt is notably high, inflation remains elevated, fiscal space is limited,