UAE's Ali Alhosani becomes first Emirati to be elected executive director at IMF

Ali Alhosani, a national of the United Arab Emirates, has become the first Emirati to be elected as an executive director at the International Monetary Fund (IMF). This significant achievement was announced by Sheikh Maktoum bin Mohammed, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, on Friday.

Sheikh Maktoum expressed his confidence in Mr. Alhosani's success in his new role. The selection of Alhosani reflects the UAE's robust economic model and its capability to showcase successful national financial development experiences. It also underscores the UAE's commitment to expanding its global economic influence through leadership in international financial institutions.

Sheikh Maktoum noted that Alhosani's appointment is a testament to the UAE's ongoing efforts to enhance its representation and leadership within international financial organizations. Alhosani had previously held the position of deputy executive director of the Arab Group at the IMF. The IMF's executive board, consisting of 25 executive directors elected by member countries and the managing director, oversees the organization's day-to-day operations.

This board discusses the economic policies' impact on member countries and their global economies, and it approves financial assistance for countries facing temporary balance of payment issues, as well as overseeing IMF training and technical support programs. Currently, the IMF is led by Managing Director Kristalina Georgieva, who directs the organization's staff and chairs the executive board.