The International Monetary Fund (IMF) aims, through its regional office in Riyadh, to deepen dialogues between the Fund and the authorities in the Gulf region and with Saudi Arabia in particular, Abdoul Aziz Wane, the first director of the IMF regional office in Riyadh said.
“The IMF will work with governments to enhance its ability to provide capacity development services to economists and institutions in the region,” added Wane in an interview with Al Arabiya Business, on the sidelines of opening the Fund’s regional office in Riyadh on Wednesday
The fund will also work with the authorities to create forums and spaces for learning and exchanging opinions between policymakers in the region and policymakers from outside the region as well, reported Al Arabiya.
Moreover, the fund aims to deepen dialogues between the Fund and the authorities in the Gulf region, specially KSA. The director revealed that the fund chose Riyadh, because the Fund and the Saudi government enjoy excellent relations.
He stressed that it is important for the IMF to have a presence in this region that contributes to shaping the world of tomorrow.
The IMF opened its regional office in the Saudi capital, Riyadh on Wednesday. This is the first office in the Middle East, reported Asharq Al-Awsat. The announcement was made during a conference organized by the Fund in cooperation with the Ministry of Finance, under the name “Industrial Policies to Promote Economic Diversification”.
Last March, the Saudi government approved an agreement to open a regional office for IMF in Riyadh.
In 2022, the Saudi Ministry of Finance signed an agreement with the IMF to establish a regional office for the Fund. The Ministry stated that this step reflects KSA’s status as one of the largest economies in the region and one of the prominent economies of the G20.
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