(MENAFN- Khaleej Times) The UAE, represented by Minister of State for Financial Affairs Obaid Humaid Al Tayer, took part in the International Monetary Fund and the World Bank Group annual meetings that concluded in Tokyo on Sunday.
Al Tayer, who chaired the Arab group at IMF's International Monetary and Financial Committee, said the meeting discussed the progress made on increasing the IMF's capital, recommendations to continue reforms of governance as well as a report on multi-party supervision by the IMF.
The annual meetings of the IMF and the World Bank Group brought together central bankers, ministers of finance and development, private sector executives, and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.
Also featured were seminars, regional briefings, Press conferences, and many other events focused on the global economy, international development, and the world's financial system.
In Tokyo, Arab countries called on the IMF and the World Bank to boost their reforms through offering advice on economic policies, financial support and the selection of the best policies to counter challenges related to the development of private sectors and economies.
They also called on the two international organisations to expand their programmes and provide financial assistance to Palestinians to help them build a viable economy.
Al Tayer urged the two organisations to give more attention to Arab countries through structural reforms and development of education to keep up with the requirements of development.
He noted that the meeting in Tokyo also discussed the role Arab oil exporting countries play in stabilising international oil markets as well as their unconditional assistance to developing countries.
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