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10-09-2010, 09:25 AM
Conscious / promotion claim control over the countries and financial centers affecting the global economic situation / report

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INA / St. G
9/10/2010 2:12 pm
Called Arab Group International Monetary Fund enhancing the effectiveness of control over the developed countries and financial centers on the economic situation affecting the global financial system. And repeated Request to review the decision to impose fees for the technical support provided by the International Monetary Fund as That the imposition of any fees would prevent access of developing countries on the necessary technical assistance.
This came in a speech of the Arab Group (Arab League), which delivered Baqer al-Zubaidi, the Minister of Finance on behalf of the Arab Governors At the annual meetings of the IMF and the World Bank for 2010
And the transfer of a media source in the ministry for (Media News Agency / INA) For Al-Zubaidi During the call that the financial crisis and economic crisis may have had adverse effects during the year 2009 on the Arab region was the decline in growth rates, but we note an improvement in growth during the current year and we expect the continuation of this improvement in 2011 and 2012, despite some signs of deterioration in the international environment . The To this crisis and the subsequent European debt crisis and declining exchange rate of euro mixed effects on the economies of our region and depending on their initial conditions at the time of the crisis and the primary sources for the transition effects of the crisis to Kalqtaa financial, and the price of oil, and the balance of payments, which impacted on trade flows and foreign direct investment and remittances . However, the credibility of the policies pursued by our countries and provides a significant amount of accumulated reserves, and other assets, enabled us to move quickly through the packages of measures and programs Althvezaly both monetary and fiscal policies, which helped to strengthen the pace of recovery and growth.
He We are aware that the promotion of economic growth to create employment opportunities calls for steps to accelerate reforms in the Arab countries and especially to improve the investment climate and trade liberalization, therefore, affirm the commitment to continue economic and financial reforms and strengthen the opportunities for integration into the global economy. Expressing Welcomed the active role of the Arab Group, which the International Monetary Fund to stabilize the global monetary and financial, in particular rapid response to the needs of member countries in the light affected by the global financial crisis, as well as the promotion and development of credit facilities, including the precautionary facilities provided by the Fund. The Group emphasizes the need for full equality between Member States in the use of all facilities, including the Fund's new facilities.
He also expressed Valuation Arab Group for what he described as the active role played by the World Bank and its institutions during the past year and rapid response to the needs of developing countries both in terms of expansion in the provision of financial support from the loans and credits or provide guarantees and technical assistance, including the private sector. So we appreciate the actions taken during the current year to ensure the continuation of the Bank's ability to meet the needs of developing countries, including the agreement on the general increase of capital. But we fear that those actions came not balanced, especially on the benefits of some developing countries that are still in need of more support.
As well as welcoming Governing Council to adopt the strategic plan of the Bank's approach in the wake of economic crisis, which focuses on the priority of reducing poverty in developing countries and least developed in the medium term, and to assist these countries to achieve the Millennium Development Goals in the area of social development and other areas. Addition, we ask the World Bank Group to continue to give priority to supporting the growth, especially growth catalyst to increase employment opportunities, through all means available. We also stress to maintain the pace of work with middle-income countries which suffer from the challenges of the turn in the rates of poverty, infrastructure and services. It also stresses the necessity of participation of all institutions of the Bank in meeting the challenges of sectoral related to lack of water resources and electricity and provide additional sources of energy in countries that suffer from a lack of them and those affected by the problems of drought and desertification as well as supporting projects aimed at providing social services to the population. We also call upon the World Bank to contribute to the improvement of infrastructure investment and strengthen the role of the private sector, especially small and medium enterprises and expand cooperation investment to the region inside and outside the region, especially in the context of cooperation between developing countries (South - South).
He stressed that economic and strategic importance for the Arab region to make the implementation of the initiative of the Arab world put forward by World Bank President Shortly after taking office a necessity, so we see the importance of the steps in order to make tangible progress in the initiative. And call to give priority to supporting the economic and financial integration among Arab countries in order to take advantage of the opportunities available and therefore call for the adoption of the World Bank development projects and bilateral and regional integration especially in the field of agriculture and food security, trade and infrastructure projects. Kzlkalchdid The importance of not excluding any Arab country ever to benefit from the projects and activities of the World Bank, whether in the framework of the Arab world, loans, technical assistance and other are still a number of countries in the region deprived of the link and receive financial assistance from the World Bank. Altakidaly and the importance of manpower development and rehabilitation of cadres in the Arab region, and we invite the IMF and World Bank to establish an effective partnership with the institutions concerned and the Arab research centers and training in the region to maximize the benefit and exchange of experiences at all levels.
The group called for her to Arab Redouble efforts to achieve the millennium development goals and emphasize the commitment of our countries work to achieve these goals and the importance of strengthening country ownership of development plans and strengthening local capacities and the need to work to improve the quality of statistics to facilitate the monitoring of progress. Shown that improving the governance structure at the IMF requires a restructuring of the voting shares of member countries, where the effectiveness and legitimacy of the Fund are entitled to access to enhance the participation of developing countries in decision-making mechanisms. Therefore, the Group emphasizes the need to take further steps to address the imbalance in the aspects of representation and voting and that a transfer of at least 5% of the total shares of developed countries to developing countries, without weakening any of the share of developing countries. Consequently, the Group stresses the importance and necessity of strengthening the representation of developing countries in the Executive Board of the International Monetary Fund in particular by increasing the number of seats allocated to them.
However Takidha The importance of active participation in meetings of the International Monetary and Financial at the level of ministers or central bank governors. However, the group expresses its opposition to any initiative that could lead to weakening or reducing the size of the Executive Board of the Fund. The Arab group that the development of the Council of international monetary and financial might damage the representation of developing countries and the extent of accountability of the management of the Fund and the effectiveness of its Executive Board. Remember the Arab ABG that this proposal did not receive little support and thus expresses surprise at the efforts to re-consider. The Group stresses the need to exert efforts to further activate the international monetary and financial mechanisms and the development work.
In another context, the group reiterated its call for the selection of the IMF and the World Bank and members of senior management on the basis of which is open and transparent competition based on merit, regardless of nationality. Called IMF and World Bank to address the apparent lack of participation of the citizens of Arab States in the career staff at the two institutions and to strengthen and intensify such participation. We also call upon the achievement of fair representation for Arab States at the level of senior management at the IMF and all the functions of the Fund and the Bank. We take this opportunity to express our appreciation to the directors of the bank to appoint His Excellency Dr. Mahmoud Mohi Eddin Managing Director of the World Bank.
It also demanded more attention and flexibility in dealing with Arab countries that suffer from conflict, whether in Palestine Owalarac, Sudan, Somalia, Yemen and others. We support the allocation of additional resources to address the negative effects of the economic blockade imposed on the Palestinian people and Palestine's accession to membership of the Fund and the Bank. We call on Sudan's access to debt relief initiatives for heavily indebted poor countries, similar to other states and support any move initiated by the World Bank or the Fund in this context.