MINISTER OF FINANCE STRESSES IMPORTANCE OF REGIONAL AND INTERNATIONAL COOPERATION TO ADDRESS GROWING ECONOMIC CHALLENGES
Finance Minister Taif Sami stressed, on Tuesday (February 11, 2025), the importance of regional and international cooperation to confront the growing economic challenges.
The Ministry of Finance stated in a statement received by “Baghdad Today” that “the activities of the Ninth Public Finance Forum in Arab Countries, organized by the UAE Ministry of Finance in cooperation with the Arab Monetary Fund and the International Monetary Fund, kicked off on Monday in Jumeirah City in Dubai, as part of the preliminary day for the World Government Summit 2025, with the participation of Arab finance ministers, economic experts and officials from international and regional financial institutions.”
According to the statement, Sami stressed “the importance of adopting flexible financial policies to confront the growing economic challenges,” noting that “achieving a balance between the requirements of development, financial sustainability, and climate action has become an urgent necessity in light of the uncertainty witnessed by the global economy. ”
She touched on the “importance of structural reforms in enhancing financial stability and achieving sustainability of public spending,” stressing the “need to develop financial policy tools to improve spending efficiency and enhance financial transparency.”
She stressed “the importance of regional and international cooperation to support the efforts of Arab countries to confront economic challenges and achieve sustainable development.”
The forum, which is held under the title (Public Finance Resilience in an Uncertain World), will explore ways to achieve this balance through four sessions that discuss the most prominent economic challenges, including the effects of the macroeconomy on public finances, debt pressures, financial policies to adapt to climate change, and developing tax systems to keep pace with economic transformations.
Participants in the forum will discuss mechanisms for financing sustainable development, the role of regional and international financial institutions in supporting Arab countries to achieve their economic goals, in addition to discussing the opportunities and challenges associated with adopting modern financial technologies to enhance digital transformation in the financial sector.
The forum concludes with a ministerial roundtable that brings together Arab finance ministers and officials from the International Monetary Fund and the Arab Monetary Fund, to discuss mechanisms for regional financial cooperation and priorities for the next phase in economic and financial policies.
