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Abdul Rahman Al-Humaidi, director of the Arab Monetary Fund, said that he feared a high level of public debt because of the economic problems faced by major economies.
He stressed that the Arab countries should reach a growth rate of 2.5% in 2019 and reach 3% next year, due to the economic and structural reforms adopted by the Arab countries.
At the opening session of the 43rd session of the Board of Governors of Arab Central Banks and Monetary Institutions, he added that central banks in Arab countries were working to support small projects, promote Financial inclusion, to encourage financial innovation and to support public-private partnership opportunities and local and international financing instruments. And its role in the development of economic growth and sustainable development.
He welcomed the efforts of the central banks to strengthen the security and sustainability of the banking system, stressing that in terms of capital, the Arab countries have made remarkable progress in accordance with the requirements of Basel III, bringing the coverage 7.4%.
He highlighted the success of Arab banks in their efforts and in the coverage of the liquidity ratio according to the gradual framework established by Basel in the Arab countries. The liquidity ratio rises to 28% of total assets, in addition to the role of central banks in raising awareness of Arab inclusion issues in Arab countries.
The director of the Arab Monetary Fund, the Arab Monetary Fund, aims to create a regional institution responsible for clearing and settling payments from Arab countries.
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