The PMA Governor Discusses Strengthening Cooperation with the International Monetary Fund (IMF) and the Arab Monetary Fund (AMF)

Mr. Yahya Shunnar, PMA Governor, held a joint meeting in the Kuwaiti capital with Mr. Omar Al-Bitar, Palestinian Minister of Finance; Dr. Nasser Qatami, Advisor to the Prime Minister on Arab Funds; and Mr. Rami Tahboub, Ambassador of the State of Palestine to Kuwait. The meeting was held with Mr. Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF).

The discussions focused on ways to strengthen cooperation between the State of Palestine and the IMF, in addition to reviewing recent economic and financial developments in light of current challenges. The meeting emphasized the importance of continued international support for national efforts to maintain financial stability and promote economic growth.

Governor Shunnar highlighted the critical role of the IMF in providing technical assistance and in building Palestinian national capacities. He affirmed the commitment of the PMA and the Palestinian financial sector to adhering to international best practices in supervision and governance.

For his part, Mr. Jihad Azour expressed appreciation for the ongoing coordination between the two sides and reaffirmed the IMF’s readiness to provide advisory and technical support to enhance the performance of the Palestinian economy and banking sector.

In a separate meeting, the Palestinian delegation met with Dr. Fahd Al-Turki, Director General and Chairman of the Board of the Arab Monetary Fund.

During the meeting, Mr. Yahya Shunnar, PMA Governor, presented an overview of the Palestinian banking sector in light of the current conditions. He emphasized the importance of strengthening bilateral relations and expanding avenues for cooperation, particularly in the areas of digital transformation and enhancing financial inclusion.

Dr. Al-Turki praised the efforts of the PMA in maintaining the stability of the banking sector and affirmed the Arab Monetary Fund’s commitment to providing technical support to the State of Palestine across various banking and economic fields.

The meeting also addressed a number of economic and financial issues of mutual interest, including Palestine’s contribution to the capital of the Fund, plans for implementing the economic reform program, and cooperation in areas such as training and the exchange of technical expertise, particularly in the financial and banking sectors.