His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, concluded his participation in the 3rd Finance Ministers and Central Bank Governors (FMCBG) Meeting under the G20 presidency of the United States. The meeting was held in Bangkok, Thailand, on the sidelines of the IMF-World Bank Group Annual Meetings.
In his speech, Minister Aljadaan stressed that the global economy has shown an ability to adapt to recurring disruptions, explaining that resilience is the basis of this adaptation, and that it is necessary to understand its cost, how to support it, and how to finance it.
Minister Aljadaan also noted that countries' fiscal policies must protect the foundations of growth, adding: "effective international cooperation is much needed to support economic stability, as the availability of reliable and affordable energy and the continuous flow of basic commodities help contain price pressures and ease the burden on national budgets, thereby helping countries navigate uncertainty."
He also affirmed that Saudi Arabia, amid this uncertainty, has helped ensure the continuity of energy supplies and the flow of trade through its investments in alternative routes.
Minister Aljadaan stressed that multilateral financial institutions play an important role in helping vulnerable economies withstand mounting financing pressures through financial and technical support programs and policy advice.