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UAE Joins Resilient Network of Countries, Governments

A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar
A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar
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UAE Joins Resilient Network of Countries, Governments

A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar
A general view of the Business Bay area, after a curfew was imposed to prevent the spread of the coronavirus disease (COVID-19), in Dubai, United Arab Emirates, March 28, 2020. REUTERS/Satish Kumar

The UAE government signed the Resilient Government Charter, to join the network of resilient countries and governments.

The network was established in partnership between the World Economic Forum and the Organization for Economic Cooperation and Development, and it includes alongside the UAE, the United Kingdom, Canada, Italy, Singapore, Japan, and Denmark.

Mohammed Abdullah Al Gergawi, minister of cabinet affairs, affirmed that building the next generation of future governments requires boosting partnerships among governments in developing methodologies on the basis of proactive and high readiness for changes.

It also demands cementing cooperation in the ability to adapt to future requirements, which will contribute to achieving higher levels of government resilience -- this reflects positively on societies.

The network of resilient countries and governments aims to enhance innovation, flexibility, and readiness for the future in the governmental work system, and to develop a system of future opportunities.

It seeks to make use of technological solutions and the tools of the fourth industrial revolution, in order to contribute to strengthening global efforts on finding solutions to common challenges and achieving comprehensive sustainable development.

Ohoud Bint Khalfan Al-Roumi, minister of state for government development and the future, signed the Resilient Government Charter during her participation in a virtual dialogue session held by the World Economic Forum in partnership with the Organization for Economic Cooperation and Development, remotely.

The session was entitled “Resilient Governance after the COVID-19 Pandemic”, and it reviewed ways to redesign the system of legislation and laws to enhance the readiness of countries for the future, and enable them to keep pace with global changes and trends.

A total of 15 speakers participated, representing the elite of government officials and specialists from the private sector in future foresight and innovation.

Ohoud affirmed that building the future of governments requires developing business models based on flexible governance, innovation, and readiness.

The minister added that the UAE government is building on achievements that have strengthened the development process over the past years, through digital transformation initiatives, smart government, and flexible methodology.

Paula Pisano, minister of technological innovation and digitization in Italy, said that the Italian government supports the adoption of innovative concepts in various vital sectors, through the launch of the “Sperimentazione Italia” initiative.

This initiative is a targeted platform for engaging and supporting companies, universities, and research institutions to test local and global innovations.

Jeffrey Schlaggenhoff, deputy secretary-general of the Organization for Economic Cooperation and Development, emphasized that governments face many challenges in the health and economic sectors as a result of the “COVID-19” pandemic, which confirms their need to make a quantum leap in decision-making processes and to develop solutions that enhance their readiness and flexibility against challenges.

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IMF: Middle East Conflict Escalation Could Have Significant Economic Consequences

Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki
Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki
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IMF: Middle East Conflict Escalation Could Have Significant Economic Consequences

Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki
Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki

The International Monetary Fund said on Thursday that an escalation of the conflict in the Middle East could have significant economic ramifications for the region and the global economy, but commodity prices remain below the highs of the past year.

IMF spokesperson Julie Kozack told a regular news briefing that the Fund is closely monitoring the situation in southern Lebanon with "grave concern" and offered condolences for the loss of life.

"The potential for further escalation of the conflict heightens risks and uncertainty and could have significant economic ramifications for the region and beyond," Kozack said.

According to Reuters, she said it was too early to predict specific impacts on the global economy, but noted that economies in the region have already suffered greatly, especially in Gaza, where the civilian population "faces dire socioeconomic conditions, a humanitarian crisis and insufficient aid deliveries.

The IMF estimates that Gaza's GDP declined 86% in the first half of 2024, Kozack said, while the West Bank's first-half GDP likely declined 25%, with prospects of a further deterioration.

Israel's GDP contracted by about 20% in the fourth quarter of 2023 after the conflict began, and the country has seen only a partial recovery in the first half of 2024, she added.
The IMF will update its economic projections for all countries and the global economy later in October when the global lender and World Bank hold their fall meetings in Washington.
"In Lebanon, the recent intensification of the conflict is exacerbating the country's already fragile macroeconomic and social situation," Kozack said, referring to Israel's airstrikes on Hezbollah in Lebanon.
"The conflict has inflicted a heavy human toll on the country, and it has damaged physical infrastructure."
The main channels for the conflict to impact the global economy have been through higher commodity prices, including oil and grains, as well as increased shipping costs, as vessels avoid potential missile attacks by Yemen's Houthis on vessels in the Red Sea, Kozack said. But commodity prices are currently lower than their peaks in the past year.
"I just emphasize once again that we're closely monitoring the situation, and this is a situation of great concern and very high uncertainty," she added.
Lebanon in 2022 reached a staff-level agreement with the IMF on a potential loan program, but there has been insufficient progress on required reforms, Kozack said.
"We are prepared to engage with Lebanon on a possible financing program when the situation is appropriate to do so, but it would necessitate that the actions can be taken and decisive policy measures can be taken," Kozack added. "We are currently supporting Lebanon through capacity development assistance and other areas where possible."