Ali Alhosani has been elected an executive director of the International Monetary Fund, becoming the first Emirati to hold a seat on the fund’s Executive Board, the Dubai Media Office said on Friday, October 16.
Alhosani will represent the Arab Group and the Maldives on the board, which is made up of 25 executive directors elected by member countries or groups of countries, plus the managing director.
He has served as alternate executive director at the IMF since 2021. He previously worked as an adviser to the executive director at the World Bank Group and as a portfolio manager at the International Finance Corporation in Washington.
His earlier roles include the Strategic Affairs Office at the Abu Dhabi Crown Prince Court and the Abu Dhabi Investment Council.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, announced the election.
“This step sends a clear message about the strength of the UAE’s economic model and its ability to share its successful experience in financial development,” Sheikh Maktoum said.
Executive directors give strategic guidance to IMF management and approve financing programs for member countries, including those represented by the Arab Group.
Alhosani said the executive director plays “a critical role” on the board, given the IMF’s lending capacity of “nearly US$1 trillion.”
He said the group’s priorities in the next phase would include strengthening the IMF’s role in financing, economic assessment and capacity building, with particular attention to countries facing crises or exceptional economic circumstances.
Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, said the UAE would work with countries in the group and other IMF members to “support fiscal and monetary policies that promote economic stability.”
The election comes as the UAE prepares to host the 2029 Annual Meetings of the World Bank Group and the IMF.
