Riyadh: The International Monetary Fund (IMF) has opened a new regional office in Saudi Arabia’s capital Riyadh to strengthen partnerships with countries in the Middle East and beyond.
The announcement came on Wednesday, April 24, on the sidelines of the “Industrial Policies to Promote Economic Diversification” conference, organized by the IMF in cooperation with the Saudi Ministry of Finance in Riyadh.
Abdoul Aziz Wane, a Senegal national, has been appointed as the first director of the regional office.
In a statement, the IMF said, “The new office will scale up capacity building, regional surveillance, and outreach to promote stability, growth, and regional integration.”
“It will strengthen the IMF’s engagement with regional institutions, governments, and other stakeholders. The IMF is grateful for the Kingdom of Saudi Arabia’s financial contribution to boost capacity development to IMF members — including fragile states,” the statement added.
The IMF expresses gratitude for Saudi Arabia’s financial contribution to enhance capacity development for IMF members, including fragile states.
In October 2022, Saudi Minister of Finance Mohammed Al-Jadaan and the IMF Director General, Kristalina Georgieva, signed a memorandum of understanding to establish a regional IMF office in the Kingdom.
