Saudi Gazette report

WASHINGTON — Saudi Finance Minister Mohammed Al-Jadaan underscored the need for the International Monetary Fund (IMF) to provide dedicated and comprehensive assistance to address the challenges facing countries affected by conflicts.

He made the remarks while speaking at a meeting of the IMF governors for the Middle East, North Africa, Afghanistan and Pakistan region with IMF Managing Director Kristalina Georgieva on the sidelines of the annual meetings of the International Monetary Fund and the World Bank in Washington.

Al-Jadaan is heading the Saudi delegation participating in the annual meetings of IMF and the World Bank as well as the fourth meeting of finance ministers and Central Bank governors of the G20, which is being held in the US capital from October 21 to 26. Attending the 21 IDA Ministerial Roundtable meeting, Al-Jadaan stressed that systematic planning and continuous reforms are the foundation for sustainable economic growth. International Development Association (IDA) is the World Bank’s fund for low-income countries.

During his current tour of Washington, Al-Jadaan met with US Treasury Secretary Janet Yellen. During the meeting, they reviewed ways to enhance economic and financial cooperation between the two countries.

Al-Jadaan, accompanied by Minister of Economy and Planning Faisal Al-Ibrahim, also met with Chairman of BNP Paribas Jean Lemierre; Global Head of Official Institutions Coverage Laurent Leveque and Head of Debt Capital Markets Alexis Taffin. During the meeting, various aspects of investment opportunities were discussed.

Accompanied by Ayman Al-Sayari, governor of the Saudi Central Bank, the finance minister held a meeting with Global Head of Sovereign Ratings and Multilateral Lending Institutions Roberto Sifon and Managing Director of the Agency Frank Gill. During the meeting, Saudi Arabia’s efforts in economic diversification and achieving sustainable development were presented.

Al-Jadaan discussed with James Longsdon, Global Head of Sovereign Ratings at Fitch Ratings, and Jan Friedrich, Managing Director of the agency, the reforms taking place in the Kingdom and their contribution to achieving growth.

Along with Minister of Economy and Planning Faisal Al-Ibrahim, Al-Jadaan met with the Global Head of Public Finance, Projects and Infrastructure at Moody’s Anne van Praag, and the Global Head of Sovereign and Quasi-Sovereign Risk Marie Deron. During the meeting, economic developments in the Kingdom were discussed in light of the Kingdom's “Vision 2030.”