Minister of Finance Holds Press Conference to Convey Key Actions Taken by IMFC

Minister of Finance and Chair of the International Monetary and Financial Committee (IMFC) at the International Monetary Fund (IMF) Mohammed Al-Jadaan, held a press conference with IMF Managing Director (MD), Kristalina Georgieva, to convey the key actions taken and main outcomes of the IMFC meetings. Al-Jadaan commended all IMFC members for their strong collaboration to achieve the Committee's objectives, and congratulated Georgieva on the beginning of her second term as Managing Director, wishing her every success in navigating the challenges facing the global economy. He also noted some key actions taken under the Kingdom's Chairmanship of the IMFC, including completing the review of the Poverty Reduction and Growth Trust (PRGT) to ensure the support of low-income nations in addressing balance of payments challenges, encouraging the IMF and WBG to further develop their approach to help nations with liquidity challenges, and supporting IMF efforts to strengthen its capacity development and secure appropri ate financing. Al-Jadaan also noted that IMFC members welcomed the addition of a new 25th Chair to the IMF Executive Board for Africa, which will strengthen its voice and representation in the Board. The IMFC deliberates on matters concerning the growth and stability of the global economy, and has become a key instrument for providing strategic direction to the work and policies of the IMF. The Kingdom's chairmanship of the IMFC reaffirms its strong commitment to promoting multilateralism, and reflects the leading role it plays towards supporting regional and global economic growth. Source: Saudi Press Agency