Finance ministers and governors of central banks in the Gulf Cooperation Council (GCC) for Arab States in Riyadh today held a meeting with International Monetary Fund (IMF) Director Kristalina Georgieva in the chairmanship of Saudi Minister of Finance Mohammed Al-Jadaan, chair of the current session. The meeting was attended by Minister of State for Finance of the United Arab Emirates, Mohammed bin Hadi Husseini; Minister of Finance and National Economy of Bahrain, Sheikh Salman bin Khalifa Al Khalifa; Minister of Finance of the Sultan of Oman, Sultan bin Salem bin Said Al-Habsi; Minister of Finance of the State of Qatar, Ali bin Ahmed Al-Kuwari; Governor of the Central Bank of Kuwait, Dr. Basil Ahmed Harun; Deputy Governor of the Bank of the UAE, Ibrahim Obaid Al-Zaabi; Governor of the Central Bank of Bahrain, Rashid Al-Maaraj; Governor of the Central Bank of the Kingdom of Saudi Arabia, Dr. Fahd Abdullah Al-Mubarak; CEO of the Central Bank of Oman, Tahir bin Salem Al-Omari; Governor of Qatar Central Bank, Sheikh Bandar bin Mohammed bin Saud Al Thani; Undersecretary of the Ministry of Finance of the State of Kuwait, Aseel Suleiman Al-Minifi; and GCC Secretary General Dr. Nayef Al-Hajraf. The meeting went over several financial and monetary issues, and included a discussion about the IMF's paper: "Economic Prospects and Policy Challenges for the GCC Countries", which focused on policies necessary for GCC countries to alleviate the repercussions of the COVID-19 pandemic and oil prices, in addition to the significance of focusing on policies to ensure the financial sustainability, such as non-oil revenues, increasing investments in renewable energy resources and the importance of structural reforms to boost private sector-led growth and provide job opportunities.
