The Saudi Finance Minister, Mohammed bin Abdullah Al-Jadaan, has taken a significant step in bolstering the Kingdom’s influence on the global economic stage by naming Dr. Ryadh bin Mohammed Al-Khuraif as his deputy for the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF).
This strategic appointment comes on the heels of the IMF’s recent decision to entrust the Kingdom of Saudi Arabia with the chairmanship of the IMFC for the period spanning from 2024 to 2027.
The Kingdom’s leadership of the IMFC not only underlines its strong commitment to fostering multilateral cooperation but also highlights its crucial role in promoting global economic stability and growth.
The IMFC is instrumental in discussing issues that affect global economic expansion and financial surety. It addresses the challenges to these goals and formulates policy recommendations to overcome them.
As the main advisory body, the IMFC directs the strategy and policy initiatives of the IMF. Its membership includes 24 prominent figures such as finance ministers and central bank governors from a diverse group of nations, encompassing advanced economies, developing regions, and low-income countries.