DIRIYAH: The Kingdom of Saudi Arabia hosted the third deputies meeting for the IMF's International Monetary and Financial Committee (IMFC) in Diriyah on April 6-7. The event, co-organized by the Ministry of Finance and the IMF, was held under Saudi chairmanship.
In his opening remarks, Finance Minister Mohammed Aljadaan commended the IMF's leadership and IMFC members for their guidance during challenging global times.
He highlighted the importance of cooperation to achieve global financial stability and foster inclusive economic growth, stating that the IMF has shown resilience by adapting to changing global circumstances.
IMF Managing Director Dr. Kristalina Georgieva, in her address, expressed appreciation for Saudi Arabia's strong and continued support for the IMF and the IMFC's leadership.
She reaffirmed the IMF’s essential role in ensuring macroeconomic and financial stability amid significant global policy changes, noting that the IMF’s mission remains crucial as it has been for the past 80 years.
The IMFC deputies discussed key issues such as enhancing global financial stability, promoting inclusive development, and addressing challenges like trade flow uncertainties.
They examined the impact of high debt levels on infrastructure and job investments, and explored the opportunities and risks posed by technological and demographic changes.
The IMF's role in supporting countries through stability programs and coordinating regional financial arrangements was also a major topic of discussion.
[Reported by Asharq Al Awsat]
