Arab FinanceDr. Mohamed Maait was elected as Executive Director, member of the Board of Executive Directors, and representative of the Arab and Maldives Group at the International Monetary Fund, according to statement cabinet.
Dr. Muhammad Maait said that he will work, through his new position, to redouble efforts to support Arab economies to support their growth by supporting consistent, integrated and balanced international financial and monetary policies that advance the path of financial stability, control public financial conditions, and form strong economic foundations that are more diversified, flexible and capable of Growth at good and sustainable rates, to serve developing countries, especially low- and middle-income countries.
He stressed that he will also work to address the increasing debt problems and their burdens in order to access appropriate financing for development and create more job opportunities, pointing out the importance of working to give the private sector more space in economic activity, and motivating it to pump more investments in a favorable and encouraging business environment. It is transparent and competitively neutral. International investments, especially “private investments”, must go to broader horizons and lead the development movement to achieve development and economic goals, and meet the basic needs of the people.
He added that we will work during the next phase to maximize the ways that the Arab group and the Maldives can also benefit from the expertise and capabilities of the International Monetary Fund, and to increase coordination with our regional Arab institutions, which can play an influential role in supporting the Arab and Maldivian economies and enhancing their ability to overcome internal and external challenges. And building a more stable and sustainable future, explaining that we will also work to push forward a flexible response to the “current state of uncertainty”, the high indicators and burdens of debt, inflation, unemployment, the slowdown in economic growth, and the requirements for financing the burdens of climate change.
Dr. Mohamed Moait extended his thanks and appreciation to President Abdel Fattah El-Sisi, for his trust and support in his nomination for this high-level international position, as well as the support of the Egyptian government, headed by Dr. Mostafa Madbouly, the ministers, the governor of the Central Bank and their deputies, and the representatives of the Arab and Maldives groups in the IMF, for their support during the nomination and voting period.
He also expressed his thanks to Dr. Mahmoud Mohieldin, the former Executive Director, for his tangible role in supporting the economic and development goals of the Arab countries and the huge efforts he made and the achievements he achieved during his tenure in this position over the past four years.
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