Manama:Khaled Mohamed Balama, Governor of the Central Bank of the United Arab Emirates, attended a joint meeting of Gulf Cooperation Council (GCC) Ministers of Finance and Central Bank Governors with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF).
According to Emirates News Agency, the meeting, which included Jasem Albudaiwi, Secretary-General of the GCC, focused on various financial and economic issues. Key topics included the economic outlook for GCC countries and the formulation of economic and fiscal policy priorities amidst ongoing global economic changes.
The discussions also revolved around strategies to enhance growth sustainability, support economic diversification, and promote technological innovation. Review of policies to ensure financial and economic stability and to bolster the GCC countries' ability to achieve sustainable growth was also on the agenda.
At the meeting's conclusion, participants highlighted the significance of continued collaboration between GCC countries and the IMF. They stressed the importance of aligning fiscal and monetary policies to maintain macroeconomic stability through the reinforcement of macroprudential frameworks, improvement of risk management tools, and increased transparency in fiscal and monetary policies.