IMF to (Maaal): We support the Kingdom’s plans to be a strong center in economic thinking

Abdulaziz Wan, Director of the International Monetary Fund’s office in Riyadh, confirmed to (Maaal) that one of the goals of the office established by the International Monetary Fund and the authorities in the Kingdom of Saudi Arabia is to support the efforts of the authorities to make the Kingdom of Saudi Arabia, and the Gulf Cooperation Council region, a strong center in global economic thought. So the idea is to bring academics and policy makers to the Kingdom who have experience in the economic policy matters facing the country but also the region with the aim of finding solutions that suit the demographics.

Regarding whether there is any cooperation or joint projects with the Islamic Development Bank and the Arab Monetary Fund, Wan said: The International Monetary Fund has a very excellent relationship in fact with the Islamic Development Bank and the Arab Monetary Fund, and we hold many events in partnership with these organizations, and the goal of the office is It is to deepen and strengthen this partnership with these regional institutions.

In an exclusive interview with Maaal newspaper on the sidelines of the opening of the new headquarters of the International Monetary Fund in Riyadh, Wan added: The idea of the Riyadh office is to support these efforts towards achieving sustainable economic prosperity, and this will be done through capacity building, and we will work with the authorities to enhance the capabilities of economists in the region as well, and we will work with economists in the region who have better knowledge of the region and the country and we will provide all support, and the Fund will also provide International criticism also has an international perspective and the idea is to formulate good political responses to the economic crises and challenges facing countries in the region.

The new office will work to build capabilities, regional oversight, and build bridges to support stability, growth, and regional integration, and will enhance the Fund’s engagement with regional institutions, governments, and other concerned parties. The Fund also expressed its gratitude to the Kingdom of Saudi Arabia for its financial contribution to enhancing capacity development in the Fund’s member countries, including fragile states.

The position of the new Director of the Senegalese Regional Office is assumed by Professor Abdelaziz Wan, a veteran director of the Fund who has deep knowledge of the institution and an extensive network of policymakers and academics worldwide.

The conference, organized by the Fund and the Saudi Ministry of Finance on April 24 and 25, marks the launch of the operations of the Fund’s regional office in Riyadh. The conference aims to review the basic principles of industrial policy and draw lessons from the successes and setbacks experienced by other regions, including the Asian miracles. The conference’s theme represents importance for the oil-rich economies in the region to undertake ambitious reforms to diversify their economies by redirecting their resources towards trade activities, which It provides citizens with rewarding jobs. The conference includes regional and international policymakers, as well as a group of leading economists specialized in industrial policy.