IMF Launches First Office in Middle East and North Africa in Riyadh
In a historic move, the International Monetary Fund (IMF) has established its first office in the Middle East and North Africa region in Riyadh, Saudi Arabia.
Joint Regional Conference on Industrial Policy for Diversification
The inauguration took place during the Joint Regional Conference on Industrial Policy for Diversification, a collaborative effort between the IMF and the Ministry of Finance, held on April 24.
Building Capacity and Fostering Stability
The primary goal of the new office is to enhance capacity building, regional surveillance, and outreach to promote stability, growth, and regional integration in the Middle East and beyond. This initiative aims to strengthen partnerships and collaboration in the region.
Closer Collaboration and Financial Contribution
The Riyadh office will facilitate closer collaboration between the IMF and regional institutions, governments, and other stakeholders. Saudi Arabia’s financial contribution to support capacity development in member countries, including fragile states, has been acknowledged by the IMF.
Seasoned IMF Director to Lead Riyadh Office
Abdoul Aziz Wane, a highly experienced IMF director with a vast network of policymakers and academics worldwide, has been appointed as the first director of the newly established Riyadh office. Wane’s expertise and understanding of the institution will play a crucial role in advancing the IMF’s objectives in the region.