RIYADH: The International Monetary Fund (IMF) has opened a regional office in Riyadh, becoming its first office in the Middle East and North Africa region, the Saudi Press Agency (SPA) reported on Thursday.
The office was launched at a Joint Regional Conference on Industrial Policy for Diversification, organized jointly by the IMF and the Saudi Ministry of Finance.
The new office focuses on strengthening capacity building, regional surveillance, and outreach to foster growth, stability, and regional integration, promoting cooperation in the Middle East and beyond.
The office will also facilitate closer cooperation between the IMF and regional institutions, governments, and other stakeholders.
The IMF appreciated Saudi Arabia for its financial contribution aimed at boosting capacity development in IMF member nations, including fragile states.
Abdoul Aziz Wane, a seasoned IMF director with extensive experience, will serve as the first director of the Riyadh office.
