Al-Rifai Discusses with IMF Officials Strengthening Technical and Advisory Support in Financial and Economic Fields
Kuwait's Finance Minister enhances cooperation with the International Monetary Fund in Bangkok.
Translated by Qiyas from الراي — Original source
Finance Minister Dr. Yaqoub Al-Rafai held talks 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 stated in a press release that these discussions took place during two meetings 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 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 the discussions held with Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah during his visit to Kuwait last December, which included ways to strengthen relations between Kuwait and the IMF in the areas 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 meetings addressed several files of mutual interest, foremost among them fiscal reforms aimed at enhancing fiscal sustainability, diversifying revenues, and improving the efficiency of public spending. They 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 the meeting between Minister Al-Rafai and Dr. El-Erian, the ministry stated that both sides affirmed the importance of continuing and enhancing cooperation between Kuwait and the Fund, and of leveraging the Fund’s expertise in technical advice and capacity building, in alignment with Kuwait’s economic and fiscal priorities.
