UAE to head the Arab Group at the International Monetary and Financial Committee meeting at the IMF

Abu Dhabi, 15 April 2015: HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs will head the UAE delegation at the International Monetary Fund and World Bank's semi-annual meetings, which will take place on 17-19 April 2015 in Washington.  The UAE delegation will include HE Khalid Ali Al Bustani, Assistant Undersecretary for International Financial Relations at MoF and specialists from the Ministry of Finance (MoF).

HE Obaid Humaid Al Tayer and his delegation will hold a series of meetings with international officials and specialists, alongside the IMF and World Bank's semi-annual meetings. These would include meetings with Dr. Jim Yong Kim, President of the World Bank Group; Christine Lagarde, Managing Director of the IMF; Dr. Hazem Al Beblawi, Executive Director of the IMF. The UAE delegation will also be participating in a series of seminars, sessions and closed meetings that will focus on topics relevant to international financial and monetary issues.

HE Obaid Humaid Al Tayer said: "The UAE is committed to work alongside various countries and international organisation to discuss latest regional and global developments and exchange expertise. We believe in the need for joint efforts to promote economic growth and support investment developments across various countries."

The meetings will address a range of projects and ideas of global concern in order to support countries in strengthening their global economic outlook, economic development, poverty eradication and aid effectiveness. In addition, a number of seminars will be held, in addition to regional media briefings, press conferences and multiple activities that will focus on the global economy, international development and the global financial system.

The semi-annual meetings will begin on 17th April, 2015. The first day will commence with speeches from the Chairman of the Board of Governors, President of the IMF, and the Managing Director of the World Bank. The International Monetary and Financial Committee (IMFC) and the Development committee meetings will be held during the second day. During the first meeting, IMFC will provide consultative services to the Fund's Board of Governors and will provide its reports to them. The meeting will also discuss prospects of the global economy, developments in financial markets, and the Fund's shares and votes.

HE Obaid Humaid Al Tayer will head the Arab group during IMFC's meeting, which is one of the most important committees in the IMF. HE will be representing the countries that fall under the Arab group: Kuwait, Oman, Bahrain, Egypt, Qatar, Lebanon, Jordan, Iraq, Libya, Yemen, Syria, and the Maldives.

Furthermore, HE will participate in the Development Committee of the World Bank meeting, which will discuss international development issues and ways to support it, in addition to the World Bank Group's plans in this regard to promote economic development and poverty eradication in developing countries.

HE will also attend the ministerial meeting, accepting the invitation by Dr. Jim Yong Kim, President of the World Bank Group, in the presence of Christine Lagarde, Managing Director of the International Monetary Fund and Ban Ki-moon, Secretary-General of the United Nations, along with some of the finance ministers participating in these meetings. The meeting will address the methods that were innovated for financing purposes, and the United Nations Framework Convention on Climate Change that will be launched at the Paris Conference in December 2015. It will also highlight financing policies and domestic and foreign investment with the private sector, and achieving "zero" rate of emissions before 2100.

© Press Release 2015