Finance Minister Discusses Enhancing Technical and Advisory Support in Financial and Economic Fields with IMF Officials
Finance Minister Yaqoub Al-Rafai discussed with IMF officials ways to enhance technical and advisory cooperation in financial and economic fields.
Translated by Qiyas from كونا — Original source
Kuwait City, October 16 (KUNA) -- Finance Minister Dr. Yaqoub Al-Rafai held discussions today, Friday, with several senior officials of the International Monetary Fund (IMF) on areas of joint cooperation between the State of Kuwait and the Fund, and on ways to enhance technical and advisory support in financial and economic fields, in line with Kuwait’s priorities and its direction toward strengthening fiscal sustainability and improving public financial management efficiency.
The Ministry of Finance said in a press release that these meetings took place during two sessions held by Minister Al-Rafai with Dr. Jihad Azour, Director of the Middle East and Central Asia Department at the IMF, and Dr. Mohamed El-Erian, Managing Director of the Arab Group and Maldives at the IMF, as part of Kuwait’s participation in the annual meetings of the Boards of Governors of the World Bank Group and the IMF, held in Bangkok, Thailand, from October 12 to 18.
The ministry added that Dr. Azour highlighted topics discussed with His Highness Sheikh Ahmed Abdullah Al-Ahmad Al-Sabah, Prime Minister, during his visit to Kuwait last December, including ways to strengthen relations between Kuwait and the IMF in the fields of fiscal and economic policies.
The ministry noted that Minister Al-Rafai emphasized to Azour the deep ties between Kuwait and the Fund, commending the technical expertise and advisory support provided by the IMF and its role in supporting national efforts to develop fiscal and economic policies.
The meeting addressed several files of mutual interest, foremost among them fiscal reforms aimed at enhancing fiscal sustainability, diversifying revenues, and improving the efficiency of public expenditure. It also covered the priorities to be discussed by the IMF mission to Kuwait from November 3 to 9, as part of the Article IV consultations.
Regarding Minister Al-Rafai’s meeting with Dr. El-Erian, the ministry stated that both sides stressed the importance of continuing and strengthening cooperation between Kuwait and the Fund, and of benefiting from the latter’s expertise in technical advisory and capacity building, in alignment with Kuwait’s economic and fiscal priorities. (End) A.Kh / M.Kh
