Al-Jadaan from Washington: We Must Be Vigilant, Prepared to Confront Challenges Ahead

The IMF Managing Director and Al-Jadaan during their joint press conference in Washington (AFP)
The IMF Managing Director and Al-Jadaan during their joint press conference in Washington (AFP)
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Al-Jadaan from Washington: We Must Be Vigilant, Prepared to Confront Challenges Ahead

The IMF Managing Director and Al-Jadaan during their joint press conference in Washington (AFP)
The IMF Managing Director and Al-Jadaan during their joint press conference in Washington (AFP)

Saudi Finance Minister Mohammed Al-Jadaan, Chairman of the International Monetary and Finance Committee (IMFC), said that the war in Ukraine, the crisis in Gaza, and the obstruction of shipping in the Red Sea have repercussions on the global economy.
Al-Jadaan’s words came during a joint press conference with the IMF Managing Director, Kristalina Georgieva, at the end of the 49th meeting of the Fund’s International Monetary and Finance Committee (IMFC), on the sidelines of the IMF spring meetings currently taking place in Washington.
The Saudi minister has been chosen to chair the IMFC for a period of three years as of Jan. 4, 2024.
“While recognizing the IMFC is not the forum to resolve geopolitical and security issues and these issues will be discussed in other fora, IMFC members acknowledged that these situations have significant impacts on the global economy. Today’s era must not be of war and conflict,” Al-Jadaan said, in a statement published on behalf of the Committee.
He continued: “A soft landing for the global economy appears to be drawing closer. Economic activity has proved more resilient than expected in many parts of the world, though it continues to diverge across countries. However, medium-term global growth prospects remain weak. Ongoing wars and conflicts continue to impose a heavy burden on the global economy.”
The statement stressed that although inflation has decreased in most regions, due to the decline in supply shocks and the effects of tight monetary policy, its persistence calls for caution.
“Against this background, our policy priorities are to achieve price stability, strengthen fiscal sustainability, and safeguard financial stability, while promoting inclusive and sustainable growth. We will proceed with rebuilding fiscal buffers, carefully tailoring actions to country-specific circumstances, while protecting the most vulnerable and growth-enhancing investment,” the IMFC chair underlined.
The Committee also stressed the importance of international cooperation to improve the resilience of the global economy and the international monetary system, and to work collectively to support climate and digital transformations, including artificial intelligence, taking into account the specific circumstances of each country.
It added: “We reiterate our commitments on exchange rates, addressing excessive global imbalances, and governance, and our statement on the rules-based multilateral trading system, as made in April 2021, reaffirming our commitment to avoid protectionist measures. We will also continue working together to strengthen the global financial safety net and address global debt vulnerabilities.”

 



‘Saudia’ Expands Flight Network with Over 10 New Destinations in 2025

Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. (Reuters)
Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. (Reuters)
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‘Saudia’ Expands Flight Network with Over 10 New Destinations in 2025

Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. (Reuters)
Saudi Arabian Airlines plane, is seen at the airport of the Red Sea resort of Sharm el-Sheikh, Egypt, August 9, 2021. (Reuters)

Saudi Airlines (Saudia) has announced the addition of more than ten new destinations to its flight network for 2025, including Vienna, Venice, Larnaca, Athens, Heraklion , Nice, Malacca, Bali, Antalya, El Alamein, and Salalah. The expansion comes in response to increased international travel demand, with a 16% growth in passenger transport last year, according to SPA.
Saudia Group's General Manager, Eng. Ibrahim bin Abdulrahman Al-Omar stated that following the airline's operational success in 2024, a strategic plan has been implemented for 2025 to maintain high performance. Flights have been scheduled to meet operational needs with flexibility throughout the year, particularly during peak seasons, while adapting to industry challenges.

The selection of new destinations was based on feasibility studies and guest demand, aligning with Saudi Arabia's national aviation strategy to reach 250 destinations by 2030.
The newly introduced routes will enhance Saudia's global network, which currently spans over 100 destinations across four continents. With more than 530 daily flights, the airline continues to develop its international operations to increase its market share and strengthen the Kingdom's global connectivity.