Minister of Finance and Planning Dr. The Hon. Omar Davies addressed 'The Arab Aid Forum' at the IMF/World Bank Meeting in Dubai, on behalf of the Caribbean and Latin America, and in his presentation highlighted the challenges and measures being taken, to address the challenges together with prospects for the region.

He acknowledged previous assistance given, but challenged the Arab Aid Institutions among other things:

• To have a stronger presence in supporting the development of Latin America and the Caribbean, particularly the smaller and poorer countries.
• He encouraged the channelling of resources to the private sector in the region.
• To explore the possibility of channelling resources through regional development and domestic banks and
• Proposed a new initiative for Arab Aid agencies to support a loan guarantee programme for middle-income countries which would reduce the interest costs of loans accessed from private capital markets.

 

The Minister's presentation was well received. Following the Seminar the Minister had discussions with H.R.H. Prince Talal Bin Abdul Aziz, President, Arab Gulf Fund for the United Nations Development Institutions and Abdulatif Y Al-Hamad, Director General and Chairman, Arab Fund for Economic and Social Development, Kuwait.

• The Minister is scheduled to hold meetings with several investment bankers, the IMF and the World Bank to update them on current economic developments in Jamaica.

 

 

 




Ministry of Finance and The Public Service Telephone: (876) 922-8600 (switchboard)    Fax: (876) 922-7097 Contact: Ms Cheryl Smith or send mail to cheryls@mof.gov.jm

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