IMF Expands Reach: New Regional Office to Open in Riyadh, Saudi Arabia

IMF Expands Reach: New Regional Office to Open in Riyadh, Saudi Arabia

By Staff Writer, 26 April 2024

The International Monetary Fund (IMF) has announced plans to inaugurate a new regional office in Riyadh, Saudi Arabia (KSA), marking a significant step in bolstering collaboration with nations across the Middle East and beyond.

This strategic move aims to amplify efforts in capacity building, regional surveillance, and outreach, with the overarching goal of fostering stability, economic growth, and regional cohesion.

By establishing a physical presence in Riyadh, the IMF intends to fortify its ties with regional entities, governments, and various stakeholders.

Acknowledging the pivotal role of Saudi Arabia, the IMF expressed gratitude for the country's financial support, particularly in enhancing capacity development among IMF member states, including those facing fragility.

Abdoul Aziz Wane, a distinguished leader within the IMF, has been appointed as the inaugural director of the regional office.

Hailing from Senegal, Wane brings to the role extensive expertise in IMF operations, coupled with a broad network spanning policymakers and academics worldwide.

His appointment underscores the IMF's commitment to fostering inclusivity and diversity in its leadership.

Source: Trade Arabia

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