Saudi Arabia Selected as IMFC Chair

The International Monetary Fund announced on Wednesday that the Kingdom of Saudi Arabia has been selected to Chair the International Monetary and Financial Committee (IMFC). (SPA)
The International Monetary Fund announced on Wednesday that the Kingdom of Saudi Arabia has been selected to Chair the International Monetary and Financial Committee (IMFC). (SPA)
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Saudi Arabia Selected as IMFC Chair

The International Monetary Fund announced on Wednesday that the Kingdom of Saudi Arabia has been selected to Chair the International Monetary and Financial Committee (IMFC). (SPA)
The International Monetary Fund announced on Wednesday that the Kingdom of Saudi Arabia has been selected to Chair the International Monetary and Financial Committee (IMFC). (SPA)

The International Monetary Fund announced on Wednesday that the Kingdom of Saudi Arabia has been selected to Chair the International Monetary and Financial Committee (IMFC), SPA said.
IMFC provides support to the IMF Board of Governors on the supervision and management of the international monetary and financial system, including on responses to unfolding events that may disrupt the system.
"The Kingdom's chairmanship of the IMFC for 2024-2027 reflects the trust of the international community in the Kingdom's leadership globally and regionally, and the pivotal role it plays in promoting international multilateral efforts," Saudi Minister of Finance Mohammed bin Abdullah Al-Jadaan said.
"I thank the Former Chair of the IMFC, Ms. Nadia Calvino, for her accomplishments during her term, and I look forward to working with the IMFC members and the IMF management to promote the stability and effectiveness of the international monetary and financial system," the Minister added.
The IMFC deliberates on the matters concerning the growth and stability of the global economy, and has become a key instrument for providing strategic direction to the work and policies of the IMF.
The Committee has 24 members, comprising finance ministers and central bank governors, and operates by consensus, including on the selection of its Chair. The Committee usually meets twice a year—at the IMF and World Bank Group Annual and Spring Meetings.
The Kingdom's chairmanship of the IMFC reaffirms its strong commitment to promoting multilateralism, and reflects the leading role it plays towards supporting regional and global economic growth.



Emir of Qatar: Inauguration of Two Solar Projects Part of Transition to Renewable Energy

Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
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Emir of Qatar: Inauguration of Two Solar Projects Part of Transition to Renewable Energy

Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)

Emir of Qatar Sheikh Tamim bin Hamad Al Thani inaugurated on Monday two strategic solar power projects in Ras Laffan and Mesaieed with a combined capacity of 875 megawatts (MW).

The projects will more than double Qatar’s solar energy production to 1,675MW of renewable energy.

“The inauguration of two strategic solar power projects in Ras Laffan and Mesaieed comes within the framework of the country's plans to transition to renewable energy, diversify energy sources, and support strategic development projects,” the Emir said.

In a post on his official account on X, Sheikh Tamim wrote, “As part of plans to transition to renewable energy, the Emir inaugurated today two strategic solar power projects in Ras Laffan and Mesaieed,” according to state-run Qatari news agency, QNA.

These plants are also intended to leverage the potential of low-carbon energy in sustainability plans and efforts to mitigate environmental impacts, he added.

Minister of State for Energy Affairs Saad bin Sherida Al Kaabi said the two plants are a fundamental step towards achieving the fourth pillar of the Qatar National Vision 2030, which is environmental management to ensure harmony and consistency between economic and social development and environmental protection.

“It also achieves one of the goals of Qatar's energy sustainability strategy, which is to generate more than 4,000 megawatts of renewable energy by 2030,” said Al Kaabi, who is also President and CEO of QatarEnergy.

These plants are expected to reduce carbon dioxide emissions by about 4.7 million tons annually.

The two stations, he said, along with the Al-Kharsaah plant, will play a significant role in meeting the country's electricity demand, contributing about 15% of the total peak electricity demand.