The Kingdom chaired the meeting of the agents of the International Monetary and Financial Committee in Washington

The fifth meeting of the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF) was held yesterday of the Kingdom at the IMF headquarters in Washington. The meeting was attended by a number of senior officials and experts from member countries.
Deputy Chair of the IMFC, noted Riyad Al-Khorayefthat the global economy is facing numerous challenges and changes. He emphasized the importance of continuously assessing global economic conditions, prioritizing policies, and exploring options to address challenges and promote sustainable growth.
He stressed the need for the IMFC to continue its role in unifying efforts and strengthening multilateral international coordination to address shared challenges.

Drafting the “Diriyah Principles”

The meeting discussed progress in drafting the “Diriyah Principles,” announced during previous Spring Meetings of the IMF and World Bank, which aim to reform the quota system and governance of the IMF while preserving the global monetary system and strengthening the Fund’s role.
This meeting reflects the Kingdom’s leading role in chairing the Committee and its ongoing efforts to promote multilateral cooperation and support the stability of the international financial system.