Under the chairmanship of the Minister of Finance, KSA concludes its participation in the spring meetings of the International Monetary Fund and the World Bank Group for 2024
Ashraf AboArafe
The delegation of the Kingdom of Saudi Arabia concluded its participation in the spring meetings of the International Monetary Fund and the World Bank Group for the year 2024 AD, headed by His Excellency the Minister of Finance, Mr. Mohammed bin Abdullah Al-Jadaan, in the American capital, Washington, during the period from 6 to 11 Shawwal 1445 AH.
During the first day, His Excellency Al-Jadaan participated in the meeting of ministers and governors of the International Monetary Fund for the Middle East, North Africa, Afghanistan and Pakistan, during which he stressed the importance of implementing effective financial policies to enhance flexibility and sustainability in light of the challenges facing the global economy.
His Excellency participated in the roundtable meeting to discuss global sovereign debt, explaining the importance of enhancing the efficiency and transparency of debt restructuring to support the efforts of the Common Framework Initiative to address debts.
During the second meeting of G20 finance ministers and central bank governors under the Brazilian presidency, His Excellency Al-Jadaan stated that the challenges facing the world, including climate change, require concerted efforts from everyone.
His Excellency also affirmed the Kingdom’s support for the efforts of the Brazilian presidency to continue the ongoing dialogue between the members of the group that focuses on enhancing the role of multilateral development banks in sustainable development.
His Excellency the Minister of Finance chaired the first meeting of the International Monetary and Financial Affairs Committee of the International Monetary Fund after the announcement of the Kingdom’s presidency of it. The meeting aimed to exchange views on developments in the global economy and discuss global economic policy priorities, and the Fund’s role in dealing with these developments by providing financial aid. Advice and technical capacity building for member states and financial support for countries in need.
The Saudi delegation also participated in the meeting of the Development Committee of the World Bank Group, and the Kingdom’s speech included an emphasis on the importance of adhering to a development model based on the needs of countries to focus on their most important development priorities.
On the sidelines of the Spring Meetings, His Excellency met with a number of ministers, central bank governors, and heads of international commercial banks, and discussed with them aspects of enhancing economic cooperation and bilateral relations.
