UAE participates in WBG, IMF annual meetings in Washington

The UAE is participating in 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, DC, from 21st to 26th October 2024.

Represented by the Ministry of Finance, the UAE delegation will be led by Mohamed Bin Hadi Al Hussaini, Minister of State for Finance.

The delegation also includes key officials such as Ibrahim Obaid Al Zaabi, Assistant Governor of the Monetary Policy and Stability Department at the Central Bank of the UAE (CBUAE); Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision at the CBUAE; Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations; Hamad Essa Al Zaabi, Director of the Office of Minister of State for Financial Affairs; Thuraiya Hamid Alhashmi, Director of International Financial Relations and Organisations at the Ministry of Finance; and several specialists from the Ministry of Finance and the Central Bank of the UAE.

Al Hussaini said, "Our participation in these meetings provides a perfect opportunity to strengthen cooperation with the IMF and World Bank and to contribute to shaping international economic policies that directly impact the Arab region. Our role as members of the International Monetary and Financial Committee is to significantly support joint efforts aimed at driving both regional and global economic cooperation.

We are committed to fostering sustainable and inclusive economic growth across the region and promoting financial and monetary stability as we recognise the importance of supporting developing countries while navigating global economic challenges.”

He added, "Through the Joint Ministerial Development Committee, we seek to support economic development pathways for low-income countries, in line with the Sustainable Development Goals. The UAE’s participation reaffirms our commitment to backing international efforts being made to boost global economic prosperity, address poverty, and enhance the financial resilience of emerging economies."

The IMF and WBG meetings are to address a wide range of pressing global issues in economy and development, bringing together a diverse group of international economic leaders, including central bank governors, finance and development ministers, and representatives from the private sector and civil society.

Key topics on the agenda include the global economic outlook, poverty eradication, economic development, international aid, and the challenges facing the global financial system. The meetings will also feature sessions for the International Monetary and Financial Committee and the World Bank’s Development Committee, both of which play a fundamental role in shaping international financial and economic policies in response to shifting global dynamics.

On the sidelines of the meetings, the Ministry of Finance, in collaboration with the Central Bank of the UAE and the UAE Embassy in Washington, will host the UAE Banks Reception.

The event will offer a valuable opportunity for delegations and senior officials from international financial institutions and banks to connect, strengthening the relationship between the UAE’s public and private sectors and highlighting the country’s growing influence in the global financial arena.

WAM