Friday June 21st, 2024
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International Monetary Fund Opens First MENA Office in Riyadh

Saudi Arabia has become an economic powerhouse in the region, prompting the IMF to announce an office in Riyadh.

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International Monetary Fund Opens First MENA Office in Riyadh

The International Monetary Fund (IMF) has chosen Riyadh in Saudi Arabia as the location for its first office in the Middle East and North Africa region.

The office, launched during the Joint Regional Conference on Industrial Policy for Diversification, aims to strengthen capacity building, regional surveillance, and outreach to promote stability, growth, and integration in the Middle East. It will facilitate closer collaboration between the IMF and regional institutions, governments, and stakeholders, with seasoned IMF director Abdoul Aziz Wane appointed as the first director of the Riyadh office.

The establishment of the IMF's office in Riyadh underscores Saudi Arabia's growing prominence in the global economic landscape and its commitment to ensuring economic stability and growth across the region. The office represents a key milestone in the IMF's efforts to enhance capacity development and economic cooperation in member countries.

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