Arab deputy finance ministers convened in Abu Dhabi yesterday to discuss pressing financial and economic issues facing the region.
Hosted by the Arab Monetary Fund (AMF), the two-day meeting will cover a range of topics, including digital transformation in public finance, the adoption of ESG standards, and the impact of financial policies on economic growth.
Key attendees include UAE Finance Ministry under-secretary Younis Haji AlKhoori and AMF director general and chairman Dr Fahad Alturki.
The meeting will delve into critical areas such as examining challenges and lessons learned from successful energy subsidy reforms across Arab countries, exploring the role of incentives in developing renewable energy sources to enhance energy security, analysing growth sources in the Arab region and assessing the impact of fiscal policy on economic growth, addressing public debt and general financial risks through a robust risk control framework, exploring the role of digital technologies in enhancing public finance transparency and efficiency, discussing the implementation of environmental, social, and governance (ESG) standards in public institutions, and examining the impact of global tax frameworks on Arab economies.
Mr AlKhoori emphasised the importance of this annual meeting in strengthening co-operation among Arab countries and addressing shared challenges. “This meeting is a crucial step towards aligning our efforts to keep pace with global changes and fostering long-term, sustainable growth,” he said.
Dr Alturki highlighted the AMF’s commitment to supporting economic stability and sustainable growth across the Arab region. He stressed the importance of exchanging expertise and fostering collaboration to address the challenges presented by the rapidly evolving global economic landscape.
The meeting will feature presentations from various Arab countries, international financial institutions, and regional organisations, including the International Monetary Fund, the World Bank, and the OECD.
Key takeaways from the meeting include the prioritisation of digital technologies and ESG principles by Arab countries in their financial and economic policies, the recognition of crucial inter-Arab cooperation for addressing shared challenges and fostering regional economic growth, and the provision of a valuable platform for exchanging best practices and exploring innovative solutions to pressing economic issues.
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