Saudi Arabia, IMF sign memo on boosting ties
Saudi Arabia's Minister of Finance Mohammad Al Jadaan and Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva signed Monday a Memorandum of Understanding (MoU).
Riyadh, The Gulf Observer: Saudi Arabia’s Minister of Finance Mohammad Al Jadaan and Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva signed on Monday a Memorandum of Understanding (MoU) on setting up a regional office in the Kingdom of Saudi Arabia.
The memo focuses on bolstering cooperation between the IMF and the Gulf Cooperation Council (GCC) member states, and boosting relations with the governments of the region’s countries, Saudi News Agency reported.
It also aim to expand the fund’s activities in developing capabilities that makes Saudi Arabia the second largest contributor to building capabilities in the region, it added.
During a news conference following the signing, Al-Jadaan said the meeting of GCC ministers of finance and Governors of the central banks discussed with the IMF all means aiming contribute to strengthening relations between the two sides.
Signing the MoU will meet all needs relating to advice and consultations given to the GCC states, he noted.
Georgieva lauded Saudi Arabia’s vital role at the international level, especially its support to the countries of the region, mainly the vulnerable ones affected by several shocks, including the Covid-19 and the geopolitical situation.
