Riyadh Secures IMF Regional Headquarters Approval
In a significant development, the Saudi Cabinet has given its final approval for the establishment of the International Monetary Fund’s regional headquarters in Riyadh. This decision paves the way for closer collaboration between the IMF and Saudi Arabia.
Chaired by King Salman, the Cabinet session held in Jeddah on March 19 marked a milestone in the agreement between the government and the IMF. The approval comes after the Kingdom’s Shura Council backed the agreement in its 21st session on Feb. 26, underscoring the importance of this strategic partnership.
With the establishment of the IMF regional headquarters in Riyadh, experts predict a more streamlined approach to economic policies and reforms. This move is expected to bolster regional stability and foster economic growth in the region, aligning with Saudi Arabia’s vision for a prosperous future.