The International Monetary Fund (IMF) has commenced its annual Article IV consultations in Oman, marking an important step in its commitment to the 190-member states. The discussions, which began today, involve representatives from the Central Bank of Oman (CBO) and the Ministry of Finance (MOF), among other Omani institutions.
The key points of discussion include recent economic developments and financial sector outlook with a particular emphasis on Small and Medium Enterprises (SMEs) development and financing. The strengthening of financial frameworks and sustainable development measures are also on the agenda.
In addition, the meetings will address efforts toward combating money laundering and terrorism financing. Stakeholders from government, civil society, and private sector institutions are actively involved in these discussions with IMF experts. The objective is to identify potential risks and recommend monetary policy reforms to maintain economic stability.
The annual consultations under Article IV of the IMF Articles of Agreement form an essential part of the IMF's role towards its member states. This includes monitoring potential economic risks and suggesting necessary financial policy reforms to ensure economic stability and comprehensive sustainable development.
The IMF experts are set to continue their meetings with officials from CBO, MOF, and other Omani institutions as part of their annual visits under the agreement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.