Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Disruptive capital flow a worry: Qatar  Join our daily free Newsletter

MENAFN - The Peninsula - 14/04/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) Qatar, together with its 13-member Group countries including four GCC nations, has expressed serious concerns at the International Monetary Fund (IMF) meeting over the potential for disruptive capital flows and exchange rate volatility in Emerging Market Economies (EMEs).



They urged the Fund to continue its analysis on the implications of the normalising of monetary policies in the Advanced Economies (AEs). The country and the group members were looking forward to the low-income countries' planned work on financial sectors surveillance, the review of debt limits and their financial deepening efforts



Addressing the 29th meeting of International Monetary and Financial Committee (IMFC) on behalf of 13 countries, including Qatar, UAE, Bahrain, Oman and Kuwait, in Washington on Saturday, Obaid Humaid Al Tayer, Minister of State for Financial Affairs, UAE urged IMF to maintain caution before any premature withdrawal of accommodative monetary policies. "It is encouraging that consolidations in the AEs have helped support long-term growth. Further consolidation efforts in Europe, however, will need to support long-term growth," he said. He also stressed the need for structural reforms in the labour, product and financial markets



Al Tayer said the Middle East economies are expected to pick up growth in 2014 and 2015. "While some oil exporters were subject to declines in oil production, the effect on growth was somewhat offset by public spending. Most economies have substantial buffers to withstand lower oil prices".The GCC countries have actively pursued policies to diverfy their economies, including through high quality spending and labour market reforms.




Al Tayer said the Fund could play a bigger role in efforts to mobilise external financing to the Arab Transition Countries (ACTs). The ACTs are currently confronting rising public aspirations for improved economic and social conditions following regime changes. In some ACTs, there is a limited fiscal space to improve infrastructure, health and education, and to provide an adequate social safety net



The Group countries said they are encouraged by the signs of a growing momentum in the global recovery. Although the recovery remains uneven in AEs, the more favourable business confidence is reassuring. Growth in EMEs and LICs is projected to remain moderate, with a further slowdown in growth expected in China. Nonetheless, the global outlook is subject to significant downside risks. These include the possibility of protracted low growth in the AE, which could be exacerbated by geopolitical tensions and by exceedingly low inflation.



On the issue of the much-delayed implementation of IMF's ownership structure and governance, Al Tayer said : "We remain opposed to an increase in the weight of GDP in the formula as this would further erode the representation of the majority of emerging markets and developing countries and the smallest LICs. We support retaining openness and variability; however their measurement should be improved. We also support retaining reserves in the quota formula.



The other countries in the Group included Egypt, Iraq, Jordan, Lebanon, Libya, Maldives, Syria and Yemen

 


The Peninsula




  MENA News Headlines
 Mar 29 2017 - UAE to start issuing tenders in Q2MENAFN
(MENAFN) The UAE will start issuing tenders in the second quarter for 250.520 square meters residential project being developed under Zayed Housing Program in Dubai.Additionally, the Al Khawaneej ...

 Mar 29 2017 - Empower customer numbers jump to over 65.000MENAFN
(MENAFN) UAE-based Emirates Central Cooling System Corp has recorded an increase in its customer base which soared to 65.000 by the end of last year.Accordingly, the main reason behind this growth ...

 Mar 28 2017 - Undersecretary of the Ministry of Health and Prevention and Ethiopian Ambassador to the UAE holds meeting to discuss joint health initiativesMENAFN Press
(MENAFN Editorial) UAE, March 27, 2017- His Excellency (H.E.) Dr. Mohamed Salim Al Olama, Undersecretary of the Ministry of Health & Prevention (MOHAP) recently met with H.E. Dr. Abdelqader ...

 Mar 28 2017 - Consumers in UAE Can Now Claim the Use of Renewable Energy with I-RECsMENAFN Press
(MENAFN Editorial) Dubai Carbon has become the local issuer of International Renewable Energy Certificate Standard (I-REC Standard) allowing end-users validate renewable energy consumption ...

 Mar 28 2017 - LSM opens doors for students in UAEMENAFN Press
(MENAFN Editorial) Students across the United Arab Emirates are turning to one of the UK's leading educational institutions for career boosting qualifications. The London School of Marketing ...

 Mar 28 2017 - UAE's Top Talent for 2016/2017 Season Selected to Join the du LaLiga High Performance CentreMENAFN Press
(MENAFN Editorial) Dubai, UAE 28 March 2017: Following an all-day trial conducted this weekend, the UAE's top talents for the 2016/2017 were selected this weekend, earn a coveted place at the ...

 Mar 28 2017 - KIZAD Reveals Largest Free Trade Zone at GMIS 2017MENAFN Press
(MENAFN Editorial) Abu Dhabi, UAE, 28 March, 2017: Responding to the rising demand from both foreign direct and existing investors wanting to establish and grow their manufacturing and industrial ...

 Mar 28 2017 - Farnek enters Abu Dhabi security services marketMENAFN Press
(MENAFN Editorial) Leading FM company signs business partnership with Abu Dhabi businesswoman HE Badria Almulla; UAE FM sector poised for 9% annual growth over the next five years - security ...

 Mar 28 2017 - Masdar Institute-University of Manchester Collaboration Project on Membrane-Based Desalination Wins UK Government FundingMENAFN Press
(MENAFN Editorial) Awarded Project Applies ‘Wonder Material' Graphene to Desalination and Water-Treatment Systems for Greater Efficiency Abu Dhabi-UAE: 28 March, 2017: Masdar Institute ...

 Mar 28 2017 - Emirates Maritime Arbitration Centre sponsors the 10th International Fujairah Bunkering & Fuel Oil Forum (FUJCON)MENAFN Press
(MENAFN Editorial) Dubai, UAE, 28 March, 2017: Emirates Maritime Arbitration Centre (EMAC) will be attending the 10th International Fujairah Bunkering & Fuel Oil Forum as a function sponsor. ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help