https://arab.news/mg6mp
RIYADH: Saudi Arabia’s Finance Minister Mohammed Al-Jadaan is leading the Kingdom’s delegation at the International Monetary Fund and World Bank 2023 Spring Meetings being held on April 10 to 16, in Washington DC.
The finance minister will also attend the 2nd meeting of G20 Finance Ministers and Central Bank Governors.
Apart from Al-Jadaan, the delegation also includes Saudi Central Bank Governor Ayman Alsayari and Saudi Fund for Development CEO Sultan Almarshad.
Saudi Arabia’s Assistant Minister of Finance for Macro-Fiscal Policies and International Relations Abdulmuhsen Alkhalaf, the Deputy Minister for International Affairs Ryadh Alkhareif, and the Deputy Minister for Macro-Fiscal Policies Thamer Aljared will also be part of the delegation. The contingent will also have other experts from SAMA, SFD, and the Kingdom’s Zakat, Tax and Customs Authority.
Specifically, Al-Jadaan will participate in the meeting of the International Monetary and Financial Committee and the Development Committee of the World Bank Group.
The joint groups are expected to review progress on the work of the institutions and further discuss any challenges.
IMFC will discuss developments in the global economy and provide directions to the IMF regarding these developments and priorities for the coming period, in addition to discussing the development committee.
On the other hand, the DC of the World Bank Group is set to pinpoint development-related challenges with the aim of finding ways to respond to them.
As for the second meeting of G20 Finance Ministers and Central Bank Governors, it will also be held under the Indian presidency on April 12 and 13. The meeting will tackle a number of issues about the risks to the global economic recovery which have become more evident since their first meeting which took place last February and discuss ways to adequately address them.
The second G20 meeting is also expected to shed light on other major issues related to the global economy such as international financial stability, climate change mitigation, and sustainable development.
The goal of the meeting is to boost policy coordination between its members, promote financial regulations that reduce risks and prevent future financial crises, and create a new international financial architecture.
The Spring Meetings will bring together central bankers, ministers of finance and development, parliamentarians, private sector executives and representatives from civil society organizations to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.