Qatar Today - - BUSINESS > BANK NOTES -

Qatar, to­gether with its 13-mem­ber Group coun­tries which in­cludes four GCC na­tions, has ex­pressed se­ri­ous con­cerns at the In­ter­na­tional Mone­tary Fund (IMF) meet­ing over the po­ten­tial for dis­rup­tive cap­i­tal flows and ex­change rate volatil­ity in Emerg­ing Mar­ket Economies (EMEs).

They urged the Fund to con­tinue its anal­y­sis on the im­pli­ca­tions of the nor­mal­is­ing of mone­tary poli­cies in the Ad­vanced Economies (AEs). The coun­try and the group mem­bers were look­ing for­ward to the low-in­come coun­tries' planned work on fi­nan­cial sec­tors sur­veil­lance, the re­view of debt lim­its and their fi­nan­cial deep­en­ing ef­forts. Ad­dress­ing the 29th meet­ing of the In­ter­na­tional Mone­tary and Fi­nan­cial Com­mit­tee (IMFC) in Washington on be­half of 13 coun­tries, in­clud­ing Qatar, UAE, Bahrain, Oman and Kuwait, the UAE Min­is­ter of State for Fi­nan­cial Af­fairs, Obaid Hu­maid Al Tayer, urged the IMF to main­tain cau­tion be­fore any pre­ma­ture with­drawal of ac­com­moda­tive mone­tary poli­cies. “It is en­cour­ag­ing that con­sol­i­da­tions in the AEs have helped sup­port long-term growth. But fur­ther con­sol­i­da­tion ef­forts in Europe will need to sup­port long-term growth,” he said. He also stressed the need for struc­tural re­forms in the labour, prod­uct and fi­nan­cial mar­kets.

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