Source Credit: Arab News
The International Monetary Fund (IMF) and Saudi Arabia's Finance Ministry jointly organized a high-level roundtable to talk about economic recovery in Middle Eastern nations affected by conflict, especially the Syrian Arab Republic. During the AlUla Conference on Emerging Market Economies, the roundtable took place.
Main goals
Three goals were identified by the participants to support the impacted economies
- Increasing capacity development (by scaling up IMF and World Bank projects), undertaking ongoing diagnostics to evaluate specific difficulties, and enlisting the aid of the international community.
- The Arab Coordination Group, World Bank, and IMF reaffirmed their commitment to working together on regional economic recovery initiatives.
- An informal coordination group will keep an eye on ongoing projects, and additional talks are scheduled for the April 25–27 IMF/World Bank Spring Meetings in Washington.
The meeting brought together the managing director of operations for the World Bank Group, the Syrian foreign minister, regional finance ministers, and members from the Arab Coordination Group and international financial institutions. In a joint statement, IMF Managing Director Kristalina Georgieva and Saudi Finance Minister Mohammed Al-Jadaan emphasized the need for international collaboration in reviving economies devastated by violence. They emphasized how important it is to attend to humanitarian concerns and facilitate a long-lasting recovery.
