OECD, Arab Monetary Fund reinforce cooperation to support regional financial and economic development

12/02/2024 – The OECD and the Arab Monetary Fund (AMF) today took steps to strengthen their partnership, extending the term of a 2017 Memorandum of Understanding (MoU) on the sidelines of the World Government Summit in Dubai, UAE. Under the MoU, the two institutions design and develop joint programmes with the aim of increasing monetary stability and economic development in the Arab region.

“For almost 20 years, the MENA-OECD Initiative on Governance and Competitiveness has supported and promoted policies for sustainable and inclusive growth,” OECD Secretary-General Mathias Cormann said. “Our co-operation with the AMF is key to continue fostering economic development in the region and addressing key challenges through policy dialogue, exchange of good practices, dissemination of standards and capacity building for the implementation of reforms.”

“In the last five years, the AMF and the OECD have brought to life a series of regional forums to move forward policy advice and knowledge exchange, as well as regional capacity building programs,” HE Fahad Alturki, Director General Chairman of the Board of the Arab Monetary Fund, said. “Renewing the MoU is a testament of the importance and relevance of the continued cooperation with the OECD, and it is timely to continue leveraging AMF and OECD’s long-standing experience and cross-sectoral expertise in implementing country and regional programs through technical assistance and capacity building.”

Issues on which the OECD and AMF will continue to work together include:

  • economic policy and structural reforms
  • investment policies
  • SMEs and entrepreneurship, including access to finance for women entrepreneurs and start-ups
  • fiscal policies, including debt management, and taxation
  • corporate governance
  • financial literacy and inclusion, especially for youth and women
  • digitalisation
  • skills and employment
  • governance and regulatory policy, including policy evaluation
  • sustainable development and green transition
  • financial sector development
  • statistics and data management
  • business integrity and anti-corruption, and
  • development co-operation
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