Ali Alhosani becomes first UAE citizen elected IMF executive director — The National

Ali Alhosani has been elected an executive director of the International Monetary Fund. He became the first citizen of the United Arab Emirates to hold this international position. The National reported the appointment.

Representation of the Arab Group

Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, UAE Deputy Prime Minister and Minister of Finance, announced Alhosani's election and wished him success in his new role. According to him, the Emirates' representation of the countries of the Arab Group and the Maldives on the IMF Executive Board reflects the strength of the country's economic model and its ability to apply successful financial development experience.

Sheikh Maktoum also stated that the appointment of UAE citizens to senior positions in international financial institutions is in line with the country's leadership's vision of strengthening its global economic influence. Alhosani previously served as alternate executive director for the Arab Group at the IMF.

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Priorities in the position

Alhosani thanked the UAE leadership for the trust placed in him to represent the country and the Arab Group. He said that the UAE's election to lead the group demonstrates member states' confidence in the country's ability to support their development priorities, as well as financial and economic reform programs.

According to him, future work will focus on supporting the priorities of the group's countries, strengthening the IMF's role in financing, economic assessment and capacity development. Particular attention is planned for states experiencing crises or exceptional economic circumstances.

Role of the IMF Executive Board

The IMF Executive Board manages the fund's day-to-day operations. It consists of 25 executive directors elected by member countries, as well as the managing director. The board reviews the impact of countries' economic policies on their economies and the global economy, approves financial assistance for states with temporary balance-of-payments problems, and oversees IMF technical assistance and training programs.