Saudi Arabia Concludes Participation at 2026 World Bank-IMF Annual Meetings

   Bangkok, October 18, 2026, SPA -- The Kingdom of Saudi Arabia's delegation, headed by Minister of Finance Mohammed Aljadaan, concluded its participation in the 2026 World Bank Group (WBG) and International Monetary Fund (IMF) Annual Meetings in Bangkok, Thailand. The delegation participated in the meetings from October 12 to 17, 2026.
   The Kingdom's participation coincided with the IMF's announcement of a one-year extension of Minister Aljadaan's term as Chair of the International Monetary and Financial Committee (IMFC), until January 2028.
   ‏Minister Aljadaan also participated in the third meeting of the G20 Finance Ministers and Central Bank Governors, held under the United States' presidency. During the session on "Current Economic Developments," he emphasized that the attacks against the Kingdom pose a risk to the global economy, and that the Kingdom plays a key role in strengthening the global economy's resilience against shocks.
   ‏The minister of finance also chaired a meeting of the International Monetary and Financial Committee (IMFC), where members exchanged views on global economic developments and ways to foster growth and stability amid geopolitical and trade tensions, supply chain disruptions, and mounting public debt burdens.
   The members underscored the importance of economic policies and structural reforms that support private sector-led growth, the strengthening of international cooperation, the security of energy flows and freedom of navigation, and addressing debt and financing challenges, particularly in low-income and fragile countries.
   They reaffirmed their commitment to a strong, well-resourced IMF, emphasizing that future discussions on quota and governance reform should be guided by the "Diriyah Guiding Principles" to enhance the fund's effectiveness and its representation of member countries.
   At the meeting of finance ministers and central bank governors from the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) with Managing Director of the IMF Dr. Kristalina Georgieva, Minister Aljadaan emphasized the importance of managing available buffers efficiently to address prolonged economic shocks while preserving the capacity to respond to future challenges. He also highlighted the role of economic diversification, energy and food security, and resilient supply chains in building more resilient economies.
   ‏Minister Aljadaan also highlighted, at the joint World Bank Group and IMF Development Committee meeting, that the IMF and World Bank must lead a global economic response and work to ease the pressure on public finances amid unprecedented challenges to peace, development and prosperity.
   ‏Minister Aljadaan further noted, at the Arab Governors' Meeting with World Bank Group President Ajay Banga, that crises present opportunities to accelerate progress, and that making the right decisions today helps lay the foundations for a stronger and more prosperous future for generations to come. He called on the WBG to consider countries' circumstances and needs and help them turn their resources into opportunities that support local content and provide quality jobs. He also called for empowering the private sector to develop resilient logistics services and strengthen integration into global supply chains.
   He also commended the efforts of the World Bank Group and the International Monetary Fund in supporting conflict-affected countries in the region, including Yemen and Syria, calling for these efforts to be intensified to keep pace with the scale of existing challenges. He also encouraged both organizations to devise innovative solutions to extend support to Sudan and the State of Palestine, drawing on successful experiences in this regard.
   ‏Additionally, on the sidelines of the Annual Meetings, Minister Aljadaan met with several officials, heads of international financial institutions, and credit rating agencies. The meetings covered global economic developments and policies supporting economic stability.
   Saudi Deputy Minister of Finance for International Relations Khalid Bawazier also joined a roundtable on World Bank Group support for Syria's recovery and reconstruction efforts. Discussions focused on the Syrian government’s priorities and the role of the World Bank Group and donor countries, including Saudi Arabia, in supporting reforms and reconstruction.
   -- SPA