GCC Finance Ministers, Governors of Central Banks Meet with IMF Director
Finance ministers and governors of central banks in the Gulf Cooperation Council (GCC) for Arab States in Riyadh today held a meeting with International Monetary Fund (IMF) Director Kristalina Georgieva in the chairmanship of Saudi Minister of Finance Mohammed Al-Jadaan, chair of the current session.
The meeting was attended by Minister of State for Finance of the United Arab Emirates, Mohammed bin Hadi Husseini; Minister of Finance and National Economy of Bahrain, Sheikh Salman bin Khalifa Al Khalifa; Minister of Finance of the Sultan of Oman, Sultan bin Salem bin Said Al-Habsi; Minister of Finance of the State of Qatar, Ali bin Ahmed Al-Kuwari; Governor of the Central Bank of Kuwait, Dr. Basil Ahmed Harun; Deputy Governor of the Bank of the UAE, Ibrahim Obaid Al-Zaabi; Governor of the Central Bank of Bahrain, Rashid Al-Maaraj; Governor of the Central Bank of the Kingdom of Saudi Arabia, Dr. Fahd Abdullah Al-Mubarak; CEO of the Central Bank of Oman, Tahir bin Salem Al-Omari; Governor of Qatar Central Bank, Sheikh Bandar bin Mohammed bin Saud Al Thani; Undersecretary of the Ministry of Finance of the State of Kuwait, Aseel Suleiman Al-Minifi; and GCC Secretary General Dr. Nayef Al-Hajraf.
The meeting went over several financial and monetary issues, and included a discussion about the IMF's paper: "Economic Prospects and Policy Challenges for the GCC Countries", which focused on policies necessary for GCC countries to alleviate the repercussions of the COVID-19 pandemic and oil prices, in addition to the significance of focusing on policies to ensure the financial sustainability, such as non-oil revenues, increasing investments in renewable energy resources and the importance of structural reforms to boost private sector-led growth and provide job opportunities.