THE ARAB MONETARY FUND ORGANIZES A (REMOTE) COURSE ON "DIAGNOSING WEAKNESSES IN PUBLIC FINANCE"

by **claud39** Tue May 25, 2021 7:40 pm

THE ARAB MONETARY FUND ORGANIZES A (REMOTE) COURSE ON "DIAGNOSING WEAKNESSES IN PUBLIC FINANCE"
2021-05-23

Abu Dhabi - United Arab Emirates

The training course on " Diagnosing Public Financial Weaknesses ", organized by the Training and Capacity Building Institute at the Arab Monetary Fund, opened today , during the period
23 - 27 May 2021 , through the method of distance training that the Fund adopted as a continuation of its training activities.

The Covid-19 pandemic and the ensuing economic downturn have created tremendous challenges to the public finances, represented by the exacerbation of fiscal deficits and an unprecedented rise in public debt levels. Unrivaled financial stimulus. The pandemic has also raised the need to move through fiscal policy, which plays an important role in economic activity in general and in Arab economies in particular.

We need to think deeply about the direction of this crisis and design a strategy to get out of it, taking into account both risks and opportunities, by diagnosing the most important new difficulties and risks facing governments at the level of public finances, and relying on accurate methods to obtain good analysis results of the current and future situation based on a diagnosis. The existing weaknesses at the external and internal levels, explaining the potential implications of these risks on the economy and explaining how to use them as one of the inputs in the policy-making process, as part of the endeavors to contain the repercussions of the crisis and support the economic recovery with a focus on developing plans to achieve reform in the medium term, and to maintain Economic, financial and social balances in our Arab countries.

On this occasion, in the speech of His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund:

Sisters and Brothers

I am pleased to welcome you to the most beautiful welcome at the beginning of the course on " Diagnosing Weaknesses in Public Finance " organized by the Institute for Training and Capacity Building at the Arab Monetary Fund, hoping that the course will contribute to enriching and deepening your knowledge on this important topic.

Sisters and Brothers

The Covid-19 pandemic and the ensuing economic downturn have created tremendous challenges to the public finances, represented by the exacerbation of fiscal deficits and an unprecedented rise in public debt levels, and given the specificity of the current crisis in terms of its unprecedented severity, comprehensiveness and multiplicity of channels, governments responded through Unrivaled financial stimulus. The pandemic has also raised the need to move through fiscal policy, which plays an important role in economic activity in general and in Arab economies in particular.

We need to think deeply about the direction of this crisis and design a strategy to get out of it, taking into account both risks and opportunities, by diagnosing the most important new difficulties and risks facing governments at the level of public finances, and relying on accurate methods to obtain good analysis results of the current and future situation based on a diagnosis. The existing weaknesses at the external and internal levels, explaining the potential implications of these risks on the economy and explaining how to use them as one of the inputs in the policy-making process, as part of the endeavors to contain the repercussions of the crisis and support the economic recovery with a focus on developing plans to achieve reform in the medium term, and to maintain Economic, financial and social balances in our Arab countries.

Sisters and Brothers

The role of government finance in the overall economy extends beyond fiscal policy to include matters related to public debt, tax reform, spending, and public sector companies. It is no secret to you that high spending rates compared to limited revenues and their volatility may lead to high levels of public debt. This not only calls for the necessity of adopting a sound policy for managing public debt in order to reduce its burdens and keep it within reasonable limits, but also requires reforming the tax system to increase its revenues. We should also work on adopting a policy of reforming the growing expenditures, such as the government pension system and health care.

To reach these goals, it is imperative to adopt the diagnostic methods and tools currently used in the monitoring work of international institutions that can be used to enhance the viability of public finances on the one hand, and on the other hand not to affect spending that may lead to the failure to achieve the desired economic growth.

Sisters and Brothers

Holding the session at this particular time is a valuable opportunity for all of us to deepen our understanding of the weaknesses in public finances and related policies. The course lectures focus on the following main themes:

The importance of fiscal policy in order to achieve economic stability.
Identify appropriate measures of fiscal vulnerabilities.
Explain how vulnerabilities arise from adverse shocks and how they can turn into crises.
Tax systems and necessary reforms.
Government spending policy.
Debt Sustainability Analysis.
Debt Management Strategies.

Sisters and Brothers

In conclusion, I would like to extend my thanks and gratitude to colleagues at the Arab Monetary Fund for presenting the course materials, and I also urge you to take advantage of this occasion to benefit from the experiences of different Arab countries, which maximizes the benefit of the session.

I wish you a successful course and may God protect you wherever you are.

Peace, mercy and blessings of God.

https://www.amf.org.ae/ar/content/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D9%86%D8%B8%D9%85-%D8%AF%D9%88%D8%B1%D8%A9-%D8%B9%D9%86-%D8%A8%D8%B9%D8%AF-%D8%AD%D9%88%D9%84-%D8%AA%D8%B4%D8%AE%D9%8A%D8%B5-%D9%85%D9%88%D8%A7%D8%B7%D9%86-%D8%A7%D9%84%D8%B6%D8%B9%D9%81-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9