UAE Concludes Participation In 2025 Spring Meetings Of World Bank Group And IMF In Washington D.C.

The UAE recently concluded its involvement in the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund. These meetings, held in Washington, D.C., from April 21 to 26, addressed global challenges such as growth, inflation, financial sustainability, digital transformation, and climate action. The Ministry of Finance and the Central Bank of the UAE represented the country at this significant event.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, highlighted the UAE's dedication to enhancing its role in shaping global economic policies. He stated: "We believe that strengthening economic resilience at both regional and global levels requires broader partnerships and adaptive, multilateral cooperation." Al Hussaini emphasised the importance of dialogue with international financial institutions to develop practical solutions for global challenges.

Khaled Mohamed Balama, Governor of the Central Bank of the UAE, remarked on the significance of dialogue and international cooperation in addressing economic challenges. "The UAE’s participation in the Spring Meetings reflects its firm belief in the importance of dialogue and international cooperation in economic and developmental fields to address global economic challenges," he stated. Balama also noted that balanced policies are crucial for monetary stability and national economic resilience.

The UAE delegation participated in various discussions during these meetings. They attended the Middle East, North Africa, Afghanistan, and Pakistan Ministerial Meeting for finance ministers and central bank governors. This meeting explored ways to promote inclusive growth amid global uncertainty while examining how the IMF supports economic stability and sustainable development.

Al Hussaini stressed strengthening cooperation with the IMF during these discussions. He praised its guidance to countries with fragile economies and called for expanding resources for employment opportunities and digital transformation. The minister reaffirmed the UAE's commitment to supporting efforts that restore growth momentum through innovation and investment in human capital.

The UAE also took part in the second G20 Finance Ministers and Central Bank Governors Meeting (FMCBG). Discussions centred on macroeconomic challenges, financial stability, international financial architecture, multilateral development banks' roadmap developments, and African development hurdles.

G20 Involvement

Al Hussaini proposed steps to enhance global macroeconomic stability during these sessions. These included addressing uncertainty, establishing a fair trade system ensuring equal opportunities, supporting emerging markets' financial resilience, and considering social dimensions of economic policies for sustainable development goals.

In a session focused on Africa's development challenges, Al Hussaini reiterated support for G20 initiatives promoting sustainable development across Africa. He also participated in International Monetary and Financial Committee meetings discussing IMF assessments on global economic outlooks.

Bilateral Engagements

During these meetings, Al Hussaini noted that ongoing economic shocks weaken growth prospects while increasing market volatility. Rising debt levels in emerging markets pose risks to stability amid high borrowing costs. The minister commended IMF efforts tailored to unique contexts while highlighting tariff impacts on trade flows affecting developing countries.

The UAE delegation engaged in high-level bilateral meetings with Pakistan, Zimbabwe, and IFAD representatives to discuss economic relations further. These discussions aimed at strengthening ties while addressing mutual concerns within financial frameworks.

The UAE remains committed to playing a pivotal role in shaping international economic policies through active participation in such forums. By fostering dialogue with key stakeholders worldwide, it seeks innovative solutions addressing pressing global issues effectively.

With inputs from WAM