The Kingdom of Saudi Arabia's delegation concluded its participation in the 2024 International Monetary Fund (IMF) and World Bank Group (WBG) Spring Meetings, held in Washington, D.C. April 15-20. The delegation was led by H. E. the Saudi Minister of Finance, Mr. Mohammed Aljadaan.
During the event's first day, Minister Aljadaan participated in the IMF Middle East, North Africa, Afghanistan, and Pakistan (MENAP) Ministers & Governors Meeting. He highlighted the importance of implementing effective fiscal policies to bolster resilience and sustainability amid the challenges facing the global economy. He also participated in the Global Sovereign Debt Roundtable, and noted the importance of enhancing the efficiency and transparency of debt restructuring to support the efforts of the G20 Common Framework for debt treatment.
During the 2nd G20 Finance Ministers and Central Bank Governors meeting under the Brazilian presidency, Minister Aljadaan said that the challenges facing the world, including climate change, require intensive and concerted efforts from all. He also emphasized that Saudi Arabia supports the Brazilian Presidency's efforts to continue the ongoing dialogue among G20 members focusing on amplifying the role of Multilateral Development Banks in development finance.
Minister Aljadaan also chaired the first International Monetary and Financial Committee (IMFC) meeting since the announcement of the Kingdom's chairmanship. The meeting participants exchanged views on developments in the global economy. They also discussed global economic policy priorities and the IMF role in providing financial assistance, advice, and technical capacity building services to member states, as well as financial support to countries in need.
The Saudi delegation also participated in the WBG Development Committee Meeting, and the Kingdom's speech included the importance of committing to a country-based model of development to focus on client countries' highest development priorities.
On the sidelines of the Spring Meetings, Minister Aljadaan met with a number of ministers, central bank governors, and heads of international commercial banks, discussing ways to enhance economic cooperation and bilateral relations.