Saudi Minister of Finance and IMFC Chair Holds Press Conference to Convey Main Outcomes of IMFC Meetings

Riyadh. Aleqtsad

His Excellency the Saudi Minister of Finance, Chair of the International Monetary and Financial Committee (IMFC), Mr. Mohammed Aljadaan, held a press conference with International Monetary Fund (IMF) Managing Director (MD), Ms. Kristalina Georgieva, to convey the main outcomes of IMFC meetings, as well as the MD’s remarks on the Global Policy Agenda (GPA).

Minister Aljadaan acknowledged efforts made by the previous IMFC Chair, Ms. Nadia Calvino, and emphasized the need to strengthen multilateral cooperation to improve the resilience of the global economy and the international monetary system.

He also highlighted the importance of addressing the keyissues facing the global economy, such as high sovereign debt, which is crippling the ability of low-income nations to grow their economies and improve the lives of their people.

Minister Aljadaan said that IMFC members support IMF continued efforts to strengthen capacity development in member countries. He also welcomed the launch of the Global Public Finance Partnership to respond to growing demand for capacity development in public finance.

Minister Aljadaan and MD Georgieva are looking forward to the addition of a new 25th Chair to the IMF Executive Board, assigned for Sub-Saharan Africa, to improve the voice and representation of those nations, and to achieve greater overall balance of regional representation at the Board, starting in November, 2024.