Washington: The Arab Monetary Fund (AMF) and the International Monetary Fund (IMF) have pledged to deepen their cooperation in order to respond more effectively to the needs of their common membership. A Memorandum of Understanding was signed on Monday by Christine Lagarde, Managing Director of the IMF, and Dr Abdul Rahman Al Hamidy, Director-General and Chairman of the Board of the AMF. The accord aims to set out a framework for further cooperation between the two organisations. The AMF and the IMF share common objectives of maintaining macroeconomic and financial stability, and accelerating broad-based and inclusive economic growth and job creation in the Arab region, in addition to strengthening capacity building.