عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Finance Minister Heads Kingdom's Delegation ‏to IMF-WBG 2024 Spring Meetings ‏

Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
TT
20
TT

Saudi Finance Minister Heads Kingdom's Delegation ‏to IMF-WBG 2024 Spring Meetings ‏

Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri
Saudi Minister of Finance Mohammed Al-Jadaan gestures as he speaks during the Saudi Green Initiative Forum, in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri

Saudi Finance Minister Mohammed Al-Jadaan will lead the Kingdom's delegation at the International Monetary Fund and World Bank Group 2024 Spring Meetings in Washington from April 15 to 20.

The Saudi delegation will also include Central Bank Governor Ayman Alsayari, Saudi Fund for Development CEO Sultan Almarshad, Assistant Finance Minister Abdulmuhsen Alkhalaf, International Monetary and Financial Committee Deputy Chair Ryadh Alkhareif, Deputy Finance Minister Khalid Bawazier, and experts from the Ministry of Finance, the Central Bank, the Ministry of Economy and Planning, the Saudi Fund for Development, and the Zakat, Tax, and Customs Authority.

Al-Jadaan will chair the first meeting of the International Monetary and Financial Committee since the Kingdom's three-year chairmanship announcement. The committee will discuss global economic developments, growth prospects, and risks, along with global economic policy priorities.

Al-Jadaan and Alsayari will also participate in the 2nd G20 Finance Ministers and Central Bank Governors Meeting under the Brazilian Presidency, focusing on global economic issues and enhancing cooperation.

Additionally, Al-Jadaan will attend a meeting of the World Bank Group's Development Committee, discussing strategies for addressing global development challenges.

The spring meetings bring together finance ministers, central bankers, international organizations, private sector executives, civil society representatives, and academics to discuss global concerns, such as the economy, sustainable development, poverty eradication, and other economic and financial topics. ‏

Most Viewed

 
Business

IMF Team Makes First Syria Visit Since 2009

Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)
Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)
TT
20
TT

IMF Team Makes First Syria Visit Since 2009

Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)
Syrians attend Eid al-Adha prayers in the courtyard of the Tomb of the Unknown Soldier in Damascus, Syria, 06 June 2025. (EPA)

An IMF team visited Syria for the first time since 2009 to take part in efforts to rebuild the economy after years of civil war and the fall of Bashar al-Assad, the lender said Tuesday.

The International Monetary Fund's trip to Damascus took place from June 1 to June 5, and its team sought to discuss authorities' priorities and how to help achieve them.

Syria's economy and the country are a wreck after 14 years of war under Assad, who was ousted in December.

"Syria faces enormous challenges following years of conflict that caused immense human suffering and reduced its economy to a fraction of its former size," said Ron van Rooden, who led the visit.

Around six million people have fled the country while another seven million have been displaced internally, he noted.

"Output has plummeted, real incomes have fallen sharply, and poverty rates are high," he said, adding that state institutions have also been weakened with much infrastructure destroyed.

"There is great urgency to address these challenges and achieve a sustainable economic recovery," van Rooden said in a statement at the end of the mission.

Much of Syria's infrastructure has been destroyed by the war, which began with a bloody crackdown on peaceful anti-regime protests.

Longtime strongman Assad was ousted in a lightning offensive by opposition factions in December, and Syria's new government has sought to rebuild diplomatic ties, including with international financial institutions.

Last month, the IMF said it had held useful discussions with Syria's economic team.

The Fund's last comprehensive review of the health of the Syrian economy was done in 2009, before the outbreak of the war in 2011.

In April, Saudi Arabia and Qatar announced that they would settle Syria's debt to the World Bank totaling about $15 million.

The World Bank suspended operations in Syria when the war began. The settlement of its arrears will allow it to resume accessing the bank's financial support and technical advice.