Baku-APA. Arab finance ministers announced Tuesday the establishment of a pan-Arab statistics center, or Arabstat, APA reports.
At their one-day annual meeting, Arab finance ministers agreed to improve the measurement of Arab economies by establishing Arabstat, an Arab version of the European statistics center Eurostat based in Luxembourg.
More statistical figures on the Arab economies would improve capital allocation and could help to better identify social areas which need utter improvement, the ministers said in a joint statement.
The economy of Egypt, the most populous Arab state, was also on the agenda.
International Monetary Fund's (IMF) director for the Middle East and Central Asia, Masood Ahmed, who participated the meeting as an observer, said an IMF delegation would go to Cairo on Wednesday to renew talks with the Egyptian government on a 4.8 billion U.S. dollars loan.
Ahmed and Egypt's Finance Minister Al-Morsi Hegazy said they were optimistic on the loan talks. Hegazy said he hoped to seal the deal in April, but Ahmed did not give a timeline.
Egypt is currently struggling for the IMF's rescue loan to survive a severe financial crisis created by two years of turmoil and instability.
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