Council of Arab Central Banks 48th meeting kicks off in Cairo

The 48th ordinary session of the Council of Arab Central Banks and Monetary Authorities' Governors kicked off Tuesday here with the participation of Governor of the Central Bank of Kuwait (CBK), Basel Al-Haroon. During his speech in the opening session, Egyptian Prime Minister Dr. Mostafa Madbouly said that this session came amid extremely complex regional and international circumstances, with severe repercussions placing Arab governments in front of unconventional challenges. These challenges require close coordination and cooperation between those responsible for formulating economic policies, and regional and international financial institutions, he noted, adding that the investment gap require achieving the goals od 2030 Sustainable Development Strategy; estimated at about USD four trillion according to UN estimates. For his part, Arab League Secretary General Ahmad Abu al-Gheit stressed that these economic challenges cannot be separated from the increasing security risks that threaten conflict betwee n major countries and the global economy. Source: Kuwait News Agency