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Press Dossier   News Category    Legal    IMF set to open regional HQ in Riyadh after Saudi Cabinet approval

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. 

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