IMF selects Saudi minister as chairman of int'l monetary, financial cmte

RIYADH, Dec 13 (KUNA) - The International Monetary Fund picked Wednesday Saudi Minister of Finance Mohammed Aljadaan to chair the International Monetary and Financial Committee (IMFC) for a term of three years, effective January 4, 2024.

"The Kingdom's chairmanship of the IMFC for 2024-2027 reflects the trust of the international community in the Kingdom's leadership globally and regionally, and the pivotal role it plays in promoting international multilateral efforts," Aljadaan told the Saudi Press Agency.
Minister Aljadaan will succeed Nadia Calvino, Spain's First Vice President and Minister for Economic Affairs and Digital Transformation, who has chaired the IMFC since January 3, 2022.
"I thank the Former Chair of the IMFC, Ms. Nadia Calvino, for her accomplishments during her term, and I look forward to working with the IMFC members and the IMF management to promote the stability and effectiveness of the international monetary and financial system," Minister Aljadaan added.
Prior to his ministerial appointment in November 2016, Aljadaan served as Chair of the Board of the Capital Market Authority of Saudi Arabia.
Before that, he worked as a private lawyer specializing in commercial law, finance and financial market transactions, privatization, and partnership between the public and private sector.
At the international level, Aljadaan serves on the Ministerial Council of the OPEC Fund for International Development, the Boards of Governors of the International Monetary Fund and World Bank, the Board of Governors of the Arab Monetary Fund, the Board of Governors of the Islamic Development Bank, and the Board of Governors of the Asian Infrastructure Investment Bank.
He also heads Saudi Arabia's delegation to the meetings of G20 Finance Ministers and Central Bank Governors and is also a member of the Board of Directors of the Saudi Public Investment Fund and the Board of Directors of Saudi Aramco.
Aljadaan previously presided as the Chair of G20 Finance Track during the Saudi G20 Presidency in 2020, a year marked by unprecedented global challenges.
The International Monetary and Financial Committee (IMFC), comprising finance ministers and central bank governors, is the primary policy advisory body of the Board of Governors of the International Monetary Fund (IMF) and deliberates on the principal policy issues facing the IMF. (end) as.ibi.