Dubai: Prime Minister Dr. Nawaf Salam met with Dr. Fahad Al-Turki, Chairman of the Board of Directors and Director General of the Arab Monetary Fund, during the World Governments Summit in Dubai. The meeting focused on strengthening cooperation between Lebanon and the Fund amidst ongoing economic and financial challenges.
According to National News Agency – Lebanon,the discussions emphasized the Arab Monetary Fund’s role in ensuring monetary and financial stability across Arab nations and highlighted the significance of Arab cooperation in supporting Lebanon’s economic recovery efforts. This includes providing technical assistance, capacity building, and developing institutional frameworks, as well as financial and monetary systems.
Prime Minister Salam reiterated Lebanon’s dedication to advancing economic and structural reforms, specifically in the areas of financial and banking sector reform, transparency enhancement, governance, and public financial management improvement. These reforms are aligned with the International Monetary Fund’s recommendations and the objectives of Arab monetary and financial cooperation.
Salam also underscored the potential contributions of the Arab Monetary Fund in supporting Lebanon within the broader Arab framework. This support could include offering technical advice, developing financial statistics systems, enhancing financial inclusion, and modernizing payment and settlement systems to bolster economic stability and growth.
Dr. Al-Turki expressed the Arab Monetary Fund’s commitment to sustaining its collaboration with Lebanon and supporting the country’s reform initiatives within the Fund’s available frameworks, thereby promoting Arab economic integration.
Both parties agreed to maintain coordination and cooperation in the future to bolster Lebanon’s economic reform efforts and facilitate its integration into Arab and international financial and monetary policy frameworks and standards.