Arab News Headlines

Qatar to Allocate Portion of SDRs to Support Least-Developed Countries

The official announcement between the State of Qatar, represented by the Ministry of Finance and the International Monetary Fund (IMF), titled State of Qatars SDRs commitment to the IMF, was issued today during the third edition of the Qatar Economic Forum.

The announcement demonstrates State of Qatars leadership role in supporting least developed countries overcome economic shocks and challenges. The global economy faces unique uncertainties, such as high inflation, increasing debt vulnerabilities, rising poverty and inequality, slowing growth and tighter financial conditions. These challenges require additional resources to be addressed, stemming notably from the rising south-to-south economy and the new growth opportunities it presents to the global business community.

The State of Qatar recognizes these rising needs and has continued to deliver on its commitment to strengthen multilateral action to address the current challenges with the aim to contribute to the new global growth story.

Source: Qatar News Agency