Mr. Salaheddine Mezouar, Minister of Economy and Finance, participated Saturday, April 16th 2011 in Washington, in the 83rd session of the World Bank?s and the International Monetary Fund?s Development Committee. The aim of this Joint Ministerial committee is to examine development issues.
Within the framework of the first theme of the session of the Development Committee, the Minister noted that the situation in vulnerable countries and the recent events in some countries show that achieving the development goals in the world is a challenge because of the instability and insecurity affecting these countries and the increasing volatility and soaring commodity prices.
The Minister, subsequently introduced the second theme of the Committee, entitled "Response to food prices global volatily and its impact on food security." He stressed that the current food price increase is very specific especially for agricultural products in terms of the complexity of its determinants that exceed the traditional factors of balancing supply and demand.
On the sidelines of this event, Mr. Mezouar participated, on the one hand, at a meeting of African finance ministers with officials of the two Bretton Woods institutions and on the other, at a meeting with the Vice-President of the Middle East and North Africa region (MENA) to the WB, Mrs Shamshad Akhtar and the Managing Director of the World Bank Group, Mrs. Sri Mulyani Indrawati.
Mr. Mezouar headed a large delegation that attended the IMF and WB spring meetings. It included the Minister in charge of Economic and General Affairs, Mr. Nizar Baraka, the Governor of Bank Al-Maghrib, Mr Abdellatif Jouahri, and the Director of Treasury and External Finance, Mrs. Faouzia Zaaboul.
It is noteworthy that Mr. Mezouar is the WB Governor representing the Group composed of Afghanistan, Algeria, Ghana, Iran, Morocco, Pakistan and Tunisia.