Finance Minister attends ministerial roundtable

Paris: Minister of Finance H E Ali bin Ahmed Al Kuwari participated in a ministerial roundtable meeting titled Sovereign Debt Challenge, with the 11...

Paris: Minister of Finance H E Ali bin Ahmed Al Kuwari participated in a ministerial roundtable meeting titled “Sovereign Debt Challenge,” with the 11th edition of the Paris Forum 2024, which is taking place in Paris, the French Republic.

The session was attended by several ministers and dignitaries. The session discussed an overview of the comprehensive assessment of the current weaknesses in global sovereign debt. In addition to discussing progress in creditor coordination, refinancing conditions including expected prospects for more market issuances, and other potential proactive solutions to liquidity pressures for solvent countries facing short-term liquidity risks.

On his part, H E Ali bin Ahmed Al Kuwari emphasized the necessity of effectively addressing the challenges posed by sovereign debts and exploring suitable methods and frameworks to tackle the emerging issues resulting from these debts. He also discussed Qatar’s initiative to alleviate the burden of debt for education, stating: “Qatar’s step to cancel outstanding debts reflects tremendous efforts in enhancing education and achieving sustainable development, with beneficiary countries committing to investing in education and community development.”

He further elucidated that through cooperation with the World Bank and the Education Above All Foundation, practical plans are being devised to support debtor countries by providing necessary technical assistance. Coordinating additional grants and multi-party loans for educational projects is considered a proactive step towards sustainable development, with a focus on easing the financial burden on concerned nations.