Saudi finance minister participates in IMF, World Bank meetings in Bali

Finance Minister Mohammed Mohammed Al-Jadaan. (SPA)

BALI: Saudi Arabia’s finance minster has attended the International Monetary Fund (IMF) and the World Bank (WB) annual meetings held in Bali, Indonesia, from Oct. 12-14.
Minister Mohammed bin Abdullah Al-Jadaan headed his country’s delegation at the IMF and World Bank meetings along with other senior Saudi officials.
In his speech before the IMF, Al-Jadaan affirmed that the global economy continued to improve despite slow growth momentum, high level of trade-related risks, and high levels of public and private debt in many countries.
He stressed the importance of promoting economic integration, trade exchange and intensifying efforts to promote international cooperation.
Jadaan reviewed the latest developments of the Saudi economy, noting the remarkable progress in implementing large-scale economic and social reforms, coinciding with high levels of articulation of the private sector in the economy.
He also noted the improvement in the performance of public finances with a notable decrease in deficit levels, in addition to efforts to create more job opportunities, particularly among youth and women.
As well as highlighting the Kingdom’s active role and contribution to support the stability in the world oil markets.
The meetings were attended by Al-Jadaan’s accompanying delegation, including Mohammed bin Mazyad Al-Tuwaijri, Minister of Economy and Planning; Dr. Ahmad bin Abdulkarim Al-Khulaifi, Governor of the Saudi Arabian Monterrey Agency (SAMA), and a number of senior officials.