The Third Forum of Public Finance in the Arab Countries: "Public Finance Reforms in Arab Countries: Prospects and Challenges

Alaa Marar Nisaa FM-The Arab Public Finance Reform Forum: "Prospects and Challenges" opened at the World Summit of Governments in 2018, which runs through February 13, 2007 in Dubai, United Arab Emirates. It is organized by the Arab Monetary Fund and the International Monetary Found Dubai, United Arab Emirates. 

The Forum was opened bye the UAE Minister of State for Financial Affairs, Obeid Humaid Al-Tayer and the Genreal Director of the Arab Monetary Fund, Dr. Abdulrahman bin Abdullah Al-Humaidi. They focused on the challenges faced by Arab economies and the importance of reducing unemployment and raising growth rates. To meet increasing government spending and improve public finances. Furthermore the General Director of the International Monetary Fund, Christine Lagarde, in the presence and participation of a number of Arab finance ministers and governors of central banks and Arab monetary insitutions, as well as a number of heads and senior officials and experts from regional and internaitonal financial instituions and ministries of finance and central banks in the Arab countries.

The Forum discussed financial policies and the promotion of income mobilization and diversification in the Arab countries. It aims to exchange experiences and discuss the challenges faced by policy makers in the Arab region in the framwork of regional and international economic and financial developments. In addition it also touched econmic prospects and their implications for the public finances in the Arab countries and other issues and related matters. In her speech, Christine Lagarde reviewed the regional economic context and the challenges of basic spending in the region. She presented suggestions for the reform process in the coming period and cluded by feeling optimistic. She said: "The Arab region may be facing great challenges, but the potential of its people and the determination of its economic leaders are also great".

She also pointed out that Arab nations once led the world to seek scientific knowledge and innovation-but to crystallize the idea that the hallmarks of civilization are containment, justice and deceny. "I am very confient that these are not just a legacy, but a sure one - to translate the legitimate aspirations of your young people into a legitimate reality in an economy that works for all", and pledged that the Fund would remain a friend and a permanent partner.