Mrs. Nadia FETTAH, Minister of Economy and Finance, headed the Moroccan delegation participating in the annual joint meetings of Arab financial authorities, to be held in Kuwait on April 9, 2025, with the participation of a number of Arab finance ministers and central bank governors, as well as representatives of several regional and international financial institutions.
The work of these meetings focused on discussing and adopting the annual reports containing the activities of the Arab financial bodies for the year 2024, and on approving their final accounts and work programs.
In parallel with the joint annual meetings of Arab financial bodies, the Minister took part in the 16th session of the Council of Arab Finance Ministers, where she made a presentation on the theme of Public Debt and Public Finance Risk Management: A Framework for Contingent Liability Risk Control. In this regard, the Minister addressed the issue of contingent liabilities facing many Arab countries, and the growing challenges these liabilities pose for the management of their financial stability, and their effects on public budgets and debt levels. In her speech, the Minister reviewed the Moroccan experience in managing the portfolio of public institutions and companies, as well as liabilities linked to public-private partnerships, in addition to the guarantees granted by la Société Nationale de Garantie et du Financement de l’Entreprise.
During this session, a series of presentations were made by representatives of the Arab Monetary Fund (AMF), the International Monetary Fund (IMF), the World Bank and the Organisation for Economic Co-operation and Development (OECD). These presentations covered the topics of energy subsidies in the Arab region, the requirements and challenges of strengthening energy security, the role of digital transformation in public finance, as well as the global minimum tax and taxes on the profits of multinational corporations.
The meeting of the Council of Arab Finance Ministers is held annually in parallel with the joint annual meetings of Arab financial bodies, with the aim of consulting and exchanging views between Arab finance ministers and representatives of Arab and international funds and financial institutions on the most important current economic issues affecting the Arab region. The Council also coordinates the positions of Arab countries with regard to the IMF and the World Bank, since it is customary for the Council to send letters signed by the rotating Chairman of the Council to the President of the World Bank Group and the Managing Director of the IMF, prior to the annual meetings of these two institutions, containing the expectations and aspirations of the Arab group with regard to these two institutions.