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UN Selects Riyadh to Host the Internet Governance Forum (IGF) 2024

General view of Riyadh city. Reuters file photo
General view of Riyadh city. Reuters file photo
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UN Selects Riyadh to Host the Internet Governance Forum (IGF) 2024

General view of Riyadh city. Reuters file photo
General view of Riyadh city. Reuters file photo

The United Nations has selected Riyadh to host the 19th edition of the Internet Governance Forum (IGF) in 2024.
The IGF is an annual event organized by the United Nations, bringing together global experts to discuss and formulate international trends and policies regarding the developments of internet governance in a collaborative manner between governments, the private sector, and non-profit organizations.
The Minister of Communications and Information Technology, Eng. Abdullah bin Amer Alswaha, affirmed that the Kingdom is leading international efforts to increase digital inclusion and bridge the digital divide worldwide.

It aims to contribute to building a thriving and inclusive digital economy for all.

This comes in light of the unlimited support received by the sector from the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and Prince Mohammed bin Salman, the Crown Prince and Prime Minister.

The Governor of the Digital Government Authority, Eng. Ahmed bin Mohammed Alsuwaiyan, pointed out that the United Nations' selection of Riyadh to host this global forum reflects Saudi Arabia’s leading role and efforts in maximizing the impact of digital infrastructure to achieve sustainable development goals and serve communities and business sectors.

The trust placed by international organizations in Saudi Arabia’s ability to host major exhibitions and global conferences confirms its position as an advanced country in the field of communications, information technology, and digital government. It also recognizes its excellence in various fields in line with the programs and initiatives of Saudi Vision 2030.

IGF brings together more than 160 countries and features over 1,000 speakers consisting of global experts and specialists. It hosts more than 300 sessions and workshops, in addition to awards, and cooperative agreements that will take place over five days. These activities aim to facilitate the exchange of expertise, success stories, and best practices in public policy issues related to the Internet.

The forum seeks to shape the future of the Internet and technology and build a secure digital future for all.

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Egypt’s Net Foreign Assets Jump in March after IMF Review Approval

Visitors look out towards the Giza pyramid complex as they tour the Grand Egyptian Museum in Giza on the southwestern outskirts of the capital Cairo on May 5, 2025. (AFP)
Visitors look out towards the Giza pyramid complex as they tour the Grand Egyptian Museum in Giza on the southwestern outskirts of the capital Cairo on May 5, 2025. (AFP)
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Egypt’s Net Foreign Assets Jump in March after IMF Review Approval

Visitors look out towards the Giza pyramid complex as they tour the Grand Egyptian Museum in Giza on the southwestern outskirts of the capital Cairo on May 5, 2025. (AFP)
Visitors look out towards the Giza pyramid complex as they tour the Grand Egyptian Museum in Giza on the southwestern outskirts of the capital Cairo on May 5, 2025. (AFP)

Egypt's net foreign assets jumped by $4.9 billion in March, central bank data showed, apparently boosted by the approval of the fourth review of the country's IMF program.

Net foreign assets climbed to the equivalent of $15.08 billion from $10.18 billion at the end of February, according to Reuters calculations based on official central bank currency exchange rates.

The International Monetary Fund in early March approved the disbursement to Egypt of $1.2 billion after completing its review of the country's $8 billion economic reform program. It also approved a request for a $1.3 billion arrangement under the IMF's resilience and sustainability facility.

Foreign investors were significant purchasers of Egyptian pound treasury bills after the approval and as one-year bills acquired after the March 2024 IMF agreement matured, two bankers said.

Egypt had been using foreign assets, which include assets held by both the central bank and commercial banks, to help prop up its currency since as long ago as September 2021. Net foreign assets turned negative in February 2022 and only returned to positive territory in May last year.

Foreign assets increased in February at both the central bank and commercial banks, while foreign liabilities rose at the central bank but declined at commercial banks.