UAE Stresses Importance of International Cooperation at IMF and World Bank Meetings

At the 2024 Spring Meetings of the International Monetary Fund and World Bank held in Washington D.C., the United Arab Emirates delegation underscored the need for global collaboration to address shared challenges. Led by UAE Minister of State for Financial Affairs Mohamed Al Hussaini, the UAE officials engaged in numerous bilateral meetings and discussions on strengthening multilateral efforts. In meetings with finance ministers from countries like the U.S., U.K., Pakistan and Ethiopia, they emphasized expanding the scope of joint work on development issues. 

During panel sessions at the IMF and World Bank, the UAE representatives called for concerted worldwide action to deal with issues exacerbated by the economic impacts of the pandemic like poverty, debt burdens, climate change and food insecurity. They proposed utilizing financing more quickly and efficiently through partnerships between development institutions, governments and the private sector to prepare for and respond to crises. The UAE also highlighted the importance of knowledge-sharing, policy coordination and sustainable financing solutions to ensure an equitable global recovery.

By participating in forums with MENAP region countries and G20 nations, the UAE delegation reinforced the need for cooperation on macroeconomic stability, geopolitical challenges, medium-term growth and transformative reforms. They advocated approaches to preserve stability during economic shocks and uncertainties while accelerating progress on crucial priorities like just energy transitions and climate goals.