MilitiaMan Sunday Afternoon "Finale Needed for a Exchange Rate Change" 3-20-2022
KTFA:
Samson: The Arab Monetary Fund organizes an extraordinary meeting of the high-level dialogue between the heads of the institutions of Regional Financing Arrangements and the International Monetary Fund
20th March, 2022
The attendees are discussing Building Back Better after the COVID-19 Pandemic: Steps Taken and Lessons Learned
Climate change challenges and the restructuring of financial frameworks to align with environmental
and social responsibility goals
Discussing ways of cooperation between the Regional Financing Arrangements Network and the International Monetary Fund to support the recovery phase in light of current developments and challenges
Saturday, March 19, 2022, the Arab Monetary Fund will organize an exceptional meeting for a high-level dialogue between the institutions of the Regional Financing Arrangements Group and the International Monetary Fund, with the participation of heads and senior officials of the member international and regional financial institutions, which include in addition to the Arab Monetary Fund: The Reserve Fund for the States of America, Latin America, the Office of Macroeconomic Research, the European Stability Mechanism, the Eurasian Stabilization and Development Fund, the BRICS Standby Arrangements, and the European Commission.
The International Monetary Fund will also participate in the group meeting. Speaking at the meeting, in addition to the heads of delegations of the above institutions and the Director-General of the International Monetary Fund, the chairmen of the G-20 working group on cooperation between international financial institutions from the French Ministry of Economy and Finance, and the Korean Ministry of Economy and Finance
The meeting comes as a continuation of the periodic dialogue undertaken by these institutions to discuss policies related to strengthening the global financial safety net, with a focus on the role of the network of regional financing arrangements, cooperation among them and their interaction with the International Monetary Fund on priority issues within the framework of the Group of Twenty
The meeting will discuss the steps taken to build back better after the Corona pandemic crisis to support sustainable recovery, in addition to the proposed initiatives and lessons learned from the Regional Financing Arrangements Network and the International Monetary Fund, to enhance their role as key actors in light of the current conditions and challenges.
The discussion will also address the issue of enhancing the resilience of the global financial system in the face of risks arising from climate change, restructuring financing frameworks to support the transition towards a sustainable economy and advancing the social responsibilities of the financial sector
On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi expressed his happiness at hosting the meeting in Abu Dhabi and the importance of continuing dialogue between the institutions of regional financing arrangements and the International Monetary Fund, noting the important role of the group’s institutions in achieving recovery from the Corona pandemic and the need to work on setting the priorities required for economic reforms and policies and financial.
His Excellency also pointed to the importance of developing and implementing appropriate measures and procedures to limit the repercussions of climate change on financial stability, looking forward to continuing dialogue on priority issues and topics with various parties LINK
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MilitiaMan: Add this into the picture. GLOBAL and REGIONAL DIGITAL TAXATION plans.. They clearly are gearing for GLOBAL TAXATION.
136 countries per the UST signed on board for it back in mid October 2021. There is nothing that stopping this from happening.
USING CLIMATE CHANGE and the COV-19 Pandemic, as excuses to TAX the population of the GLOBE for our Governments et al "" spending habits has foolery all over it.
I am not one to not want to pay my fair and legal right of taxes. I don't like the guise they use in getting them. The underlying debt from the COVID -19 pandemic is a mere shot in the ARM compared to the hundreds of trillions in fraudulent Mortgage Backed Securities that went upside down since 2008 that are likely still needing to get sorted.
They look to be telling us they have a way to let us (we the citizens of the globe) pay it all back collectively around the world regardless of who is actually responsible for the debts.
That is my underlying view of the matter in a broader scheme of things and those that are scheming this are going to laugh all the way to the bank on our dime / dinar or what have you.. .. jmtc & imo.
Here is to a safe exit and lets hope and pray this synchronization they are doing is the finale needed to see the exchange rate of the Dinar changed.
That may be all that is needed to be applied for the big day that appears to be upon us in short order.. lol ~ MM
"His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, delivers a speech at the opening of the “Fourth Regional Forum for Taxes in the Arab Countries” 2022-03-19 Tax policies to promote economic recovery and drive inclusive and sustainable growth For the post-Corona crisis period
The role of tax policies in promoting the process of recovery and comprehensive and sustainable economic growth, in parallel with strengthening financial conditions during the next stage The importance of adopting a gradual strategy that takes into account the synchronization with the economic recovery plans applied in the Arab countries for a safe exit from the short-term tax measures and measures that were taken within the fiscal and monetary stimulus packages launched by the Arab countries, amounting to 389 billion US dollars, to mitigate the unfavorable repercussions resulting from the pandemic.
Inflation is expected to rise by at least three percentage points more than previously estimated rates for 2022 Focusing efforts on reforming indirect taxes and addressing structural challenges to enhance their effectiveness in increasing public revenues and supporting inclusive growth, in light of the relatively high contribution of tax revenues to the total public revenues of Arab countries by more than 35 percent.
Building on the reforms achieved in the field of tax administration and continuing efforts to digitize tax services, leading to the development of a modern tax administration Preparing local tax frameworks, in line with the development of reforms of the global tax system With the participation of experts from regional and international financial institutions and the presence of officials in the ministries of finance and tax authorities and authorities in the Arab countries
His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, delivered an opening speech at the Fourth Regional Forum on Taxes in the Arab Countries, which is held under the title “Tax policies to enhance economic recovery and advance comprehensive and sustainable growth for the post-Coronavirus crisis,” organized by the Arab Monetary Fund, in cooperation with the International Center for Taxes and Investment, yesterday, Thursday, March 17, 2022.
At the beginning of his speech, His Excellency stressed that the forum this year came in the context of supporting economic recovery efforts and advancing comprehensive and sustainable growth in parallel with strengthening financial conditions, in light of recent economic and financial challenges that have increased due to the deep and broad effects of the Covid-19 pandemic, foremost of which are financial imbalances. Internal and external levels in light of the high levels of the fiscal deficit, the public debt that reached around the world at the end of September 2021 to about 296 trillion US dollars, the weak external financial situation, and high inflation rates due to the escalation of food prices and basic materials and interruptions in supply chains, in addition to expectations of continuing risks Surrounding the trajectory of the economic recovery, in light of the uncertainty about how quickly the pandemic will recede, and concerns about the prospects for a slowdown in the looming growth momentum.
His Excellency indicated that the path towards full economic recovery from the repercussions of the Covid-19 pandemic has become tainted by a great deal of uncertainty in light of these challenges and risks, despite the early support provided by the economic measures taken, and the improvement in health conditions thanks to the availability of vaccines.
In this context, His Excellency highlighted the importance of tax policies in promoting the process of recovery and comprehensive and sustainable economic growth, in parallel with strengthening financial conditions during the next stage. He indicated that the challenge lies in how to balance the achievement of these overlapping goals, whose achievement requires selecting the appropriate mix of available alternatives for fiscal and tax policies.
His Excellency indicated that in light of the current international developments, it is estimated that the global economic growth forecast for 2022, which was previously estimated at 4.4 percent, will drop by 4.4 percent, and the inflation rate is estimated to rise by at least three additional percentage points from the previously estimated rates for the same year.
In a related context, His Excellency pointed out the importance of a "safe exit" from the short-term tax measures and measures taken to mitigate the unfavorable repercussions resulting from the pandemic, indicating that the value of the financial and monetary stimulus packages launched by Arab countries since the beginning of the pandemic until January 2022 amounted to about 389 billion. US dollars, of which about 121 billion dollars (representing 31 percent) are financial packages launched by the ministries of finance in the Arab countries.
He pointed out that getting out of these packages requires adopting a gradual strategy, taking into account the synchronization with economic recovery plans. He also touched on a number of tax policy options that can be relied upon to drive economic growth in parallel with the strengthening of financial conditions.
His Excellency indicated that in light of the contribution of tax revenues in Arab countries exceeding one-third of public revenues to reach about 35.8 percent (about 10.3 percent of GDP), there is a need to focus efforts on continuing indirect tax reform and addressing structural challenges by simplifying and expanding the value-added tax and selective tax systems and expanding their base, focusing taxes on environmentally unfriendly activities, and activating taxes on digitization-based transactions, in addition to the importance of Building on the reforms achieved in the field of tax administration and continuing efforts to digitize tax services, leading to the development of a modern tax administration that enhances tax compliance.
His Excellency also referred to the need to prepare local tax frameworks, in line with the evolution of the reforms of the global tax system, and to benefit from the positive developments that have occurred recently in addressing the challenges of taxation on the digital economy.
Finally, His Excellency affirmed the Arab Monetary Fund's keenness to organize the Regional Tax Forum annually"