Shunnar Urges the International Monetary Fund to Play a Greater Role at This Critical Juncture in the History of the Palestinian Cause

During His Speech on Behalf of the State of Palestine at the IMF Spring Meetings in Washington

Washington – His Excellency Mr. Yahya Shunnar, the PMA Governor, called on the International Monetary Fund to assume a greater role during this critical juncture in the history of the Palestinian cause, particularly in light of the difficult economic conditions and escalating challenges resulting from the ongoing Israeli aggression.

This appeal was made during his address on behalf of the State of Palestine at the meeting of central bank governors and finance ministers from the Middle East and North Africa (MENAP). The session was attended by IMF Managing Director, Ms. Kristalina Georgieva, as part of the ongoing Spring Meetings of the International Monetary Fund and the World Bank, currently taking place in Washington, D.C.

The meeting was also attended by H.E. Omar Al-Bitar, Palestinian Minister of Finance, along with a high-level delegation from the PMA, the Ministry of Finance, and the Financial Follow-Up Unit.

In his speech, the Governor highlighted the scale of the challenges facing the Palestinian economy and banking sector, emphasizing the vital role of the IMF, the World Bank, and other international financial institutions in supporting reconstruction efforts and promoting financial and banking stability in Palestine.

In addition, Governor Shunnar called for the elevation of the State of Palestine’s representation within the IMF, in a manner consistent with the national rights of the Palestinian people. Such representation, he stressed, would enable Palestine to voice its economic and humanitarian needs more effectively in international forums, on par with other member states. He expressed his gratitude to the Kingdom of Saudi Arabia and the State of Qatar for their support of this request.

Furthermore, The Governor expressed his deep appreciation to the Republic of Sudan, the Republic of Iraq, the People's Democratic Republic of Algeria, and the Islamic Republic of Mauritania for their steadfast and supportive positions during this sensitive period.

Governor Shunnar reaffirmed the State of Palestine’s commitment to upholding the principles of transparency, advancing financial and economic reforms, and continuing efforts to build a resilient and forward-looking Palestinian economy that is resilient and capable of sustained growth, despite the current challenges.

For her part, IMF Managing Director Ms. Kristalina Georgieva thanked the Governor for his remarks and expressed her understanding of the concerns raised. She reaffirmed the IMF’s commitment to supporting countries facing humanitarian and economic crises—foremost among them, Palestine—and pledged to work toward establishing appropriate mechanisms to respond to these requests.