News Brief No. 99/15

News Brief: IMF, Arab Monetary Fund Sign MoU to Establish Regional Training Program

April 1, 1999

In Abu Dhabi on March 12, 1999, the Heads of the International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a Memorandum of Understanding to establish a joint Regional Training Program (RTP).

The program, which will be conducted at the AMF headquarters in Abu Dhabi will begin on May 1, 1999 and is targeted at officials of member countries of the IMF and the AMF in the Middle East and the North Africa region. The RTP is a medium-term program, initially covering a three year period but is subject to renewal. The courses that will be offered will focus on macroeconomic management and policies, financial programming, financial sector and banking issues, public finance, and economic statistics. The RTP will also organize seminars on topical regional issues.

Mr. Michel Camdessus, the Managing Director of the IMF, welcomed the establishment of the RTP: "The new training program will make an important contribution to meeting the critical training needs of the region. It will allow the IMF and the AMF to mobilize their human and financial resources in a partnership for training that takes full advantage of their respective expertise," he said.