Loukal at WB, IMF annual meetings in Washington

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ALGIERS- Finance Minister Mohamed Loukal took part, in Washington, in the annual meetings of the World Bank (WB) and the International Monetary Fund (IMF), said Sunday a ministerial communiqué.

“As part of his participation in the WB and IMF Annual Meetings in Washington, Mr. Loukal, took part in the plenary meetings of the multilateral financial institutions, resulting in fruitful exchanges with some finance ministers and experts present at these meetings, “said the same source.

Mr. Loukal attended the meetings of the International Monetary and Financial Committee (CMFl) and the Development Committee (CD).

Discussions focused on general trends in the global economy that are characterized by “moderate” and “less regular” economic growth, the statement said, adding that it was also noted that “the current global economic context is surrounded by monetary, financial and  commercial uncertainty, which could have a negative impact on development efforts around the world “.

In the context of these discussions, the focus was on “human capital, as a key factor for poverty reduction and growth promotion, financial inclusion, the digital economy and the vulnerability of debt in emerging and low-income countries “.

In addition, the Algerian delegation led by Mr. Loukal also took part in the meetings of Arab and African governors with the president of the WB group, as well as at the meeting of MENA Finance Ministers and Central Bank Governors (North Africa and Middle East) with the Managing Director of the IMF.

These meetings provided a space for exchanges of views on the preoccupation affecting these regions in a context marked by “economic instability due to the political and social situations”.

Ways and means of contribution of the WB and the IMF for the accompaniment of the countries of these regions in their development efforts were also the subject of exchanges with the leaders of the Broton Woods institutions, said the same source.

On the bilateral front, Mr. Loukal met with Mr. Bandar Hajjar, Chairman of the Islamic Development Bank Group (ADB), and Mr. Danny Alexander, Vice-President and Secretary General of the Asian Infrastructure Investment Bank (AIIB), with whom the exchanges focused on the ways and means for the strengthening of the partnership of Algeria with these two institutions.

With regard to the IDB, special consideration has been given to cooperation opportunities in the area of ​​SME promotion, Islamic finance development, economic transformation and diversification.

Finally, on the sidelines of these Annual Meetings, Mr. Loulak met with some of his counterparts from other countries, with whom he discussed the state of cooperative relations and how to further develop them.

As a reminder, Mr. Loukal, went Wednesday to Washington to participate in the proceedings of the Annual Meetings of the World Bank Group (WB) and the International Monetary Fund (IMF), scheduled for October 17 to 20 current.

APS

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