Conclusion of the Third Meeting of International Monetary and Financial Affairs Committee Deputies in Diriyah Under the Kingdom’s Presidency

In collaboration between the Saudi Ministry of Finance and the International Monetary Fund, Saudi Arabia concluded the third meeting of the International Monetary and Financial Committee (IMFC) under the IMF, which was held under the Kingdom’s presidency in Diriyah from 8th to 9th Shawwal 1446 Hijri corresponding to 6th to 7th April 2025.

During his opening speech, Minister of Finance, Mohammed bin Abdullah Al-Jadaan, lauded the leadership of the IMF and the IMFC members in guiding the Fund through challenging times. He stressed the importance of cooperation to ensure global financial stability and strong, comprehensive economic growth. Al-Jadaan noted the IMF’s determination in adapting to ongoing global changes.

IMF Managing Director Kristalina Georgieva expressed gratitude to Saudi Arabia for its continuous and robust support for the IMF and its adept leadership of the IMFC. She highlighted the IMF’s role in enhancing financial and economic stability, stressing its importance amidst major policy shifts globally. Georgieva emphasized that the 191 member countries could rely on the IMF as a trusted advisor.

During the high-level discussions, IMFC deputies tackled several topics related to enhancing global financial stability and comprehensive development. They addressed challenges facing the global economy due to uncertainty in trade flows and its impact on capital flows in advanced and developing economies. The discussions also touched upon the impact of rising debt on infrastructure investments and jobs, as well as the opportunities and risks arising from technological and demographic transformations. The deputies highlighted the IMF’s role in supporting countries through financial stability programs and coordinating regional financial arrangements.

Saudi Arabia’s chairmanship of the IMFC reaffirms its regional and international standing, as well as its strong commitment to enhancing multilateral cooperation and pivotal role in supporting global economic stability and growth.

The Committee discusses issues related to boosting global economic growth, ensuring global financial stability, addressing current challenges, and recommending policies to deal with them. The IMFC serves as a key platform to discuss the strategic directions of the IMF’s work and policies, comprising 25 members including finance ministers and central bank governors from advanced, developing, and low-income countries.