ALGIERS – Tuesday, 19 September 2023 (APS) – The governors of Arab central banks and the managers of the financial sector emphasized Monday, in Algiers, the importance of investing Arab budget surpluses in Arab countries and boosting Arab economic and financial development organizations with the coordination of joint economic policies, commending the steps taken by Algeria in terms of economic diversification and investment promotion.

In statements on the sidelines of 47th ordinary session of the Board of Governors of Arab Central Banks and Monetary Institutions, financial managers called on the Arab countries to speed up the implementation the economic reforms to diversify their economies and face the current economic situation, which has increased the inflation and debt levels, through the combination of efforts to limit the impact of the imported inflation.

The governor of the Iraqi Central bank, Ali Mohsen Ismail, stressed the need for cooperation and coordination of Arab countries’ positions in the face of the global economic situation, calling for “important structural reforms in terms of economic diversification.”