Finance Minister Discusses Enhancing Technical and Advisory Support with IMF Officials
Kuwait's Finance Minister meets with IMF officials to strengthen cooperation and technical support in financial and economic fields.
Translated by Qiyas from القبس — Original source
Finance Minister Dr. Yaqoub Al-Rafai held talks today, Friday, with several senior officials of the International Monetary Fund (IMF) to discuss areas of cooperation between Kuwait and the Fund, as well as ways to enhance technical and advisory support in financial and economic fields, in line with Kuwait’s priorities and its direction toward strengthening financial sustainability and improving the efficiency of public financial management.
The Ministry of Finance said in a press release that these meetings took place during two sessions convened 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 and Maldives Department 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 discussions held with His Highness Sheikh Ahmad 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 Dr. Azour the depth of relations between Kuwait and the Fund, commending the technical expertise and advisory support provided by the IMF and its role in supporting national efforts aimed at developing fiscal and economic policies.
The meeting addressed several files of mutual interest, foremost among them fiscal reforms aimed at enhancing financial sustainability, diversifying revenues, and improving the efficiency of public spending, as well as the priorities to be discussed by the IMF mission to Kuwait from November 3 to 9, as part of the Article IV consultations.
Regarding the meeting between Minister Al-Rafai and Dr. El-Erian, the ministry stated that both sides emphasized the importance of continuing and strengthening cooperation between Kuwait and the IMF, and leveraging the latter’s expertise in technical consultation and capacity building, in alignment with Kuwait’s economic and financial priorities.
