UAE Strengthens Global Financial Ties at 2024 IMF and World Bank Meetings

UAE, 25 December, 2024 : The UAE, represented by the Ministry of Finance, participated in the 2024 Annual Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) in Washington, D.C., from October 21 to 26. The delegation, led by H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Finance, included senior officials from the Ministry of Finance and the Central Bank of the UAE (CBUAE).

Key participants included H.E. Ibrahim Obaid Al Zaabi, Assistant Governor of the CBUAE; H.E. Ahmed Saeed Al Qamzi, Assistant Governor for Banking and Insurance Supervision; and other senior ministry representatives. The meetings provided a platform to discuss pressing global economic issues and foster cooperation with international financial institutions.

H.E. Mohamed bin Hadi Al Hussaini emphasized the UAE’s commitment to strengthening ties with the IMF and World Bank and contributing to shaping economic policies impacting the Arab region. He highlighted the UAE’s efforts in supporting sustainable growth, financial stability, and development pathways for low-income countries in line with the Sustainable Development Goals.

Key agenda topics included the global economic outlook, poverty eradication, and the challenges facing the international financial system. Sessions by the International Monetary and Financial Committee and the World Bank’s Development Committee addressed these issues, shaping strategies to boost global financial resilience.

On the sidelines, the UAE Ministry of Finance, in collaboration with the CBUAE and UAE Embassy in Washington, hosted the UAE Banks Reception, promoting collaboration between public and private sectors and underscoring the UAE's growing influence in the global financial landscape.