The role of the Arab monetary fund in solving the Arab economic problems with reference to Arab spring states. | ||
| AL-dananeer | ||
| Article 1, Volume 1, Issue 9, September 2018, Pages 75-87 | ||
| Author | ||
| Dr. Rafid Ali Abdullah | ||
| Abstract | ||
| Financial and economic cooperation between countries and accession to regional and international institutions is one of the main elements of contemporary international economic relations, and the financial and economic crises facing the world economy have proved beyond doubt the need to move in two directions: 1. Restructuring the global monetary system. 2. Expanding cooperation at the regional level, especially in the economic, in general, financial and monetary fields in particular. As a result, the post-World War II major capitalist states have created many international organizations such as the International Monetary Fund (IMF), the World Bank and the Paris Club in order to develop solutions to the problems and crises facing the world's economies. In the same context, the Arab countries followed the example of the capitalist countries (Arab League, Arab Monetary Fund, etc.) in their quest to achieve self-reliance and to improve the terms of exchange with other countries, especially the capitalist ones. It is thus possible to say that the Arab Monetary Fund is a regional Arab financial institution under the umbrella of the League of Arab States. It was established in 1976 and started its activity in 1977. It has 22 member states. Several objective factors have contributed to the establishment of this fund: 1. Improving the economic status of developing countries, including the Arab countries at the global level, especially the countries of (OPEC). 2. The economies of capitalist countries at that time were exposed to inflation due to monetary crises, including the increase in the price of oil by OPEC several times and the reaction of the capitalist countries. 3. The Arab countries try to find a suitable alternative to the International Monetary Fund, which provides the necessary liquidity for lending when needed. | ||
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