Saudi Arabia has been chosen as the location for the International Monetary Fund’s first office in the Middle East and North Africa region.
The IMF launched its regional base in Riyadh this week.
The office was launched during the Joint Regional Conference on Industrial Policy for Diversification, jointly organised by the IMF and the Kingdom’s Ministry of Finance.
IMF launches Saudi office
The new office aims to strengthen capacity building, regional surveillance, and outreach to foster stability, growth, and regional integration, thereby promoting partnerships in the Middle East and beyond.
Additionally, the office will facilitate closer collaboration between the IMF and regional institutions, governments, and other stakeholders.
The IMF expressed its appreciation to Saudi Arabia for its financial contribution aimed at enhancing capacity development in IMF member countries, including fragile states.
Abdoul Aziz Wane, a seasoned IMF director with an extensive understanding of the institution and a broad network of policymakers and academics worldwide, will serve as the first director of the Riyadh office.
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