The Strategist

IMF and AMF signs MoU to deepen cooperation

04/22/2015 - 05:36

IMF and AMF signs MoU to deepen cooperation
The International Monetary Fund and the Arab Monetary Fund have signed a Memorandum of Understanding (MOU) to enhance cooperation in the region.
"This agreement will strengthen our partnership with the Arab Monetary Fund and allow us to tap into its vast expertise in the issues facing the region. It also illustrates our strong commitment to step up our engagement with the region in terms of policy advice and capacity development," Ms. Lagarde said after the signing ceremony.
The AMF and the IMF share common objectives of maintaining macroeconomic and financial stability, and accelerating broad-based economic growth and job creation in the Arab region, in addition to strengthening capacity building. Both the organizations will provide training opportunities to Arab officials, support the development of domestic capital markets in the Arab countries, and strengthen their collaboration on the Arabstat initiative, which aims at the development of efficient statistical systems in the region.
The two organizations will also carry out joint analytical work to inform Arab finance ministers and central bank governors, and to organize high level events on topics of mutual interests in Arab region.  
Meanwhile, The Arab Monetary Fund and the World Bank Group have also signed an Enhanced Partnership Framework to support countries in the Middle East and North Africa (MENA) region in developing their economies and financial markets.