IMF reveals how its new bank coalition will operate

The focus of a new co-ordination group formed on February 16th by the International Monetary Fund, World Bank, Arab Co-ordination Group and regional countries is Palestine, Syria and Lebanon, the IMF’s Middle East director said, according to The National.

Jihad Azour told The National that the new committee is defined by its “partnership with the region,” during the AlUla Conference for Emerging Market Economies in Saudi Arabia.

In order to make sure that aid is not being provided without a result of development, Azour said: “you need to train a large group of civil servants at the Central Bank, Ministry of Finance … in statistics and other core functions of the state. And most of them speak Arabic.”

Azour added: “We are adapting, what we know, to the needs of those countries.”

The National