Saudi Arabia is considering establishing a regional office of the International Monetary Fund in Riyadh.

On Sunday, the Minister of Finance of Saudi Arabia, Muhammad Al-Jadaan, discussed with the Director General of the International Monetary Fund Kristalina Goroyeva the issue of opening a regional office of the Fund in Riyadh.

Finance Minister Muhammad Abdullah Al-Jadaan wrote on his Twitter account: “Today I met with the Director General of the International Monetary Fund Kristalina Georgieva and discussed with her the areas of cooperation between the Kingdom and the Fund, including capacity development. and the establishment of a regional office of the Fund in the city of Riyadh.”

During the meeting, Al Jadaan highlighted the Kingdom’s support for the Fund’s food crisis mitigation efforts, its ongoing support for countries in need of food and energy crises, and the Kingdom’s contribution last year to support the region and the hardest hit countries.

In addition, Saudi media reported that the Saudi Ministry of Finance will sign a memorandum of understanding on Monday regarding the establishment of a regional office of the International Monetary Fund in the Kingdom.

She said the move reflects the Kingdom’s position as the largest economy in the region and one of the most prominent economies in the G20.

The IMF expects the kingdom to become one of the fastest growing economies in the world, with its gross domestic product growing by 7.6% this year.

Source: RT + Saudi media

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