Arab News, Thu, Mar 21, 2024 | Ramadan 11, 1445
IMF set to open regional HQ in Riyadh after Saudi Cabinet approval
Saudi Arabia:
The path is now clear for the International Monetary Fund to establish its
regional headquarters in Riyadh, following the final approval from the Saudi
Cabinet.
Presided over by King Salman, the Cabinet session
held in Jeddah on March 19 endorsed the initial agreement between the
government and the IMF, while clearing various other decisions and approvals.
This came less than a month after the Kingdom’s
Shura Council supported the same agreement in its 21st session on Feb. 26,
before submitting it to the highest level for final endorsement.
This move is anticipated to enhance coordination
on economic policies and reforms, thereby contributing to enhanced regional
stability and growth, as reported earlier by the Saudi Press Agency.