The International Monetary Fund (IMF) has acknowledged Saudi Arabia’s ongoing support and leadership in global financial matters. During a recent International Monetary and Financial Committee (IMFC) meeting held in Diriyah, IMF Managing Director Kristalina Georgieva expressed appreciation for Saudi Arabia’s contributions, highlighting the country’s pivotal role in strengthening economic stability worldwide.
Georgieva emphasized that Saudi Arabia’s current chairmanship of the IMFC reflects its elevated international standing and commitment to global growth. The Kingdom has been an IMF member since 1957 and began leading the IMFC in December 2023, further solidifying its influence in shaping international financial policies.
At the event, Finance Minister Mohammed Al-Jadaan praised the IMF’s adaptability amid global challenges and underscored the significance of international cooperation for economic stability and inclusive growth. He also noted Saudi Arabia’s progress in economic transformation under Vision 2030, which focuses on diversification and modernization.
IMFC deputies discussed strategies for boosting financial stability, addressing the effects of uncertain trade flows, managing rising debt, and leveraging technological and demographic shifts. The committee reaffirmed the IMF’s essential role in supporting countries through financial programs and advising on policies for sustainable growth.
A recent study highlighted Saudi Arabia’s effective fiscal management, enabling the adjustment of investment plans within Vision 2030. Despite reduced oil production causing a slight economic contraction, the non-oil sector grew by 3.8%, driven by private investment and consumption. Unemployment reached historic lows, with female workforce participation surpassing targets set by Vision 2030.