Saudi Arabia, Japan Discuss Expansion of Investment Opportunities in Digital Field

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital Transformation, Taro Kono. SPA
Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital Transformation, Taro Kono. SPA
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Saudi Arabia, Japan Discuss Expansion of Investment Opportunities in Digital Field

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital Transformation, Taro Kono. SPA
Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital Transformation, Taro Kono. SPA

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met on Saturday in Jeddah with the Japanese Minister for Digital Transformation, Taro Kono, and his accompanying delegation.

Al-Swaha discussed with the Japanese Minister the expansion of investment opportunities in the digital field between the two countries to support the growth of the digital economy and innovation.

They also reviewed achievements in several digital projects and joint initiatives within the Saudi and Japanese Vision 2030, accelerating the adoption of modern technologies in digital government services.

Additionally, they discussed localizing research and development centers and fostering partnerships between the two friendly nations to develop capabilities and build an economy based on technology and innovation.



IMF Board Approves Argentina Payout of Almost $800 Mn

Argentina's president Javier Milei has vowed to get inflation back down - AFP
Argentina's president Javier Milei has vowed to get inflation back down - AFP
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IMF Board Approves Argentina Payout of Almost $800 Mn

Argentina's president Javier Milei has vowed to get inflation back down - AFP
Argentina's president Javier Milei has vowed to get inflation back down - AFP

The IMF executive board voted to approve a payout of almost $800 million for Argentina as it continues a program of drastic economic reforms under its libertarian president, Javier Milei.

A self-declared "anarcho-capitalist," Milei has vowed to halt Argentina's economic decline and reduce the budget deficit to zero, and has embarked on a program to slash public spending and bring down inflation, which remains at an annual rate of more than 275 percent, AFP reported.

"The Executive Board assessed the program to be firmly on track, with all quantitative performance criteria through end-March 2024 met with margins," the International Monetary Fund said in a statement.

The decision by the IMF executive board to approve the eighth review of its loan program with the Latin American nation will allow for the disbursement of just over $793 million, bringing the total disbursements under the existing program to more than $41 billion.

"The Board emphasized that sustaining the strong progress requires improving the quality of fiscal adjustment, initiating steps towards an enhanced monetary and FX (foreign exchange) policy framework, and implementing the structural agenda," the IMF said.

"Continued efforts to support the vulnerable, broaden political support and ensure agile policymaking will also be necessary," it added.

"The good news continues," Milei wrote on X, sharing the IMF statement.

The payout approval follows an announcement earlier in the day that Argentine inflation came in at 4.2 percent in May, the lowest in two-and-a-half years, according to the INDEC statistics agency.