middle eastSouth Arabia

Under the auspices of Dr, Omar Al-Razaz, Prime Minister of Jordan, 42nd, Round of the Council Governors of Arab Central Banks Held in Amman

[su_label type=”info”]SMA News – Amman – Exclusive[/su_label][su_spacer size=”10″] The 42nd, round of council of governors of Arab Central Banks was held in Amman on Monday 17th, 2018, under auspices of Dr. Omar Al-Razaz, prime minister of Jordan and headed by Dr. Mohamed Mansour Zamam, governor of Central Bank of Yemen.
In his speech, prime minister Al-Razaz indicated that political and economic challenges faced by Arab countries necessitate extraordinary efforts from governments and private sectors to contain them and to achieve inclusive sustainable development and creating more jobs. He added that the meeting is held under critical conditions full of political, economic and social challenges that reflected negatively on the Arab World in addition to uncertainty and regression of intermediate investments as the whole region is witnessing clear regression as an international investment front. This is added to the suffering of refugees and what it adds to extra boredom over hosting societies. This led to economic regression and increased rates of unemployment, especially among youth. Nevertheless, Dr. Al-Razaz appreciated the efforts of Arab monetary authorities in coping with major developments of international banking and monetary policies.
Chairman of the 42nd round, Dr. Mohamed Mansour Zamam, governor of Central Bank of Yemen, indicated that there was a significant recovery of world economy last year, with growth rate of 3% with improvements of economic activities due to several factors including facilitated monetary policies in most countries and increased rates of growth of Chinese economy in addition to increased confidence rates and suitable conditions for money markets. Nevertheless, long-term growth is facing the risk of regression because of decreased rates of capitalist and productive expenses, monetary fragility accumulation and continuous challenges facing countries exporting basic good, including a number of Arab Countries. These factors decreased levels of production and doubled the risks facing the world in achieving sustainable development, especially in developing countries.
This round’s agenda included relevant issues including monetary, currency and economic development on regional and international levels. The meeting invited Mr. Agustin Carstens, general director of International Settlements Bank as a major spokesman.
The meeting also discussed supporting funds for micro and moderate projects, challenges of applying “Block Chain” policy, safety of Banking sector in addition to the consequences of the procedures of EU regulations for protecting monetary sector’s data. Several senior officers of the the International Monetary Fund.

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