Egypt keen on strengthening cooperation among Arab economies to avoid severe shocks
Newspaper Title: https://www.egypttoday.com/
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Monday - 13 February 2023
CAIRO - 13 February 2023: Finance Minister Mohamed Maait asserted Egypt's keenness on strengthening cooperation among Arab economies to avoid severe shocks.
This came during his bilateral meeting with Director General and Chairman of the Board of Directors of the Arab Monetary Fund (AMF) Abdulrahman Bin Abdullah Al Hamidi on the sidelines of his participation in the World Government Summit (WGS) in Dubai, according to an official press release by the Finance Ministry.
He further noted that the Arab Trade Financing Program (ATFP) and the joint payment mechanism stimulate intra-trade between brothers and thus contribute to increasing the volume of investments, in a way that helps the Arab region overcome the consequences of the global crisis.
The two sides stressed the importance of holding the Seventh Public Fiscal Forum in Arab countries.
The minister said this forum represents a framework for promoting dialogue among Arab finance ministers and the International Monetary Fund (IMF) in a way that contributes to exchanging expertise on challenges facing financial policies in light of the current global economic developments.
For his part, the AMF chairman pledged to continue to support the Egyptian economy, which is moving at a steady pace towards achieving growth and has a great deal of flexibility in the face of internal and external shocks.
