IMF chooses Saudi Arabia to chair monetary affairs committee

Arabic and International | Today, 11:58 |

    

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The International Monetary Fund announced today, Thursday (14 December, 2022), the selection of Saudi Arabia to chair the International Committee for Monetary and Financial Affairs, noting that Saudi Finance Minister Mohammed Al-Jadaan will be Chairman of the committee.

The committee is working to provide support to the IMF Board of Governors in the area of oversight of the global monetary and financial system, including actions to address events that may cause disturbances in the system.

Saudi Finance Minister Mohammed Al-Jadaan was quoted by the Saudi Press Agency as saying that “Saudi Arabia’s choice to head the International Monetary and Financial Affairs Committee for the period 2024-2027 reflects confidence in its leadership position globally and regionally and its pivotal role in promoting multilateral international action.”

The International Monetary and Financial Committee discusses issues related to promoting the growth and stability of the world economy, ensuring global financial stability and a key platform to provide the strategic direction of the work and policies of the IMF.

The committee has 24 members finance ministers and central bank governors and bases its mechanism of action and decision-making on consensus including the selection of its chairman and meets twice a year, as well as meetings of the International Monetary Fund and the World Bank Group.

Source: Agencies

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