Saudi Arabia – The International Monetary Fund’s regional office was opened in Riyadh yesterday, becoming the Fund’s first office in the Middle East and North Africa.
The opening came on the sidelines of a global conference entitled “Industrial Policies Conference to Promote Industrial Diversity,” organized by the International Monetary Fund in cooperation with the Saudi Ministry of Finance in the capital, Riyadh.
The new office will contribute to expanding the scope of the international organization’s operations in the Gulf region and the Middle East, developing financial and economic work, and supporting the growth movement in the region
For his part, Assistant Minister of Finance for Macro-Financial Policies and International Relations, Abdul Mohsen bin Saad Al-Khalaf, expressed his hope that the work of the new office will have a positive impact on the Middle East and Gulf region by maximizing analysis, building capabilities, and providing technical assistance.
The Saudi official pointed out that the Kingdom has strong companies at various levels with the International Monetary Fund.
In turn, Deputy Director of the Middle East Department at the International Monetary Fund, Zain Zidane, appreciated the opening of the new office, and pointed out that the reason for choosing the headquarters in Saudi Arabia is that it is considered to have the strongest economy in the Gulf and the Arab world.
He stressed the office’s ambitions to enhance economic capabilities, build bridges with economic decision-makers, and enhance cooperation with financial institutions in the Kingdom and the Gulf countries.
Last March, the Saudi Council of Ministers approved the establishment of a regional office for the Fund in the capital, Riyadh, and this came within the framework of an agreement signed between the Saudi Ministry of Finance and the Fund in 2022.
Earlier, Director of the International Monetary Fund, Kristalina Georgieva, stressed the importance of the Fund’s regional office, and said: “Our new office in Riyadh works to strengthen our presence and partnerships with Arab institutions.”
She pointed out that the establishment of the office aims to spread the culture of financial technologies, which has become an important pillar in developing financial and economic work and supporting the growth movement.
Source: RT
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2024-04-26 14:46:40