The IMFC’s Saudi chair acknowledges the impact of global crises but believes other forums are better places to discuss them

The IMFC’s Saudi chair acknowledges the impact of global crises but believes other forums are better places to discuss them

RIYADH: In order to discuss the global Saudi macroeconomic and financial implications of current conflicts, the International Monetary and Financial Committee convened its biannual meeting in Washington, DC, on Friday.

According to Mohammed Al-Jadaan, the Saudi finance minister and head of the IMFC, the organization’s members concentrated on the conflict in Ukraine, the humanitarian situation in Gaza, and the disruptions to shipping in the Red Sea.

“Advise and reporting on the supervision and management of the international monetary and financial system is the IMFC’s role,” he stated. This covers how you react to things that could throw the system off.

Naturally, during the past few years, numerous global disruptions have affected both the world and the International Monetary Fund (IMF). While it is encouraging that prospects are improving, there are still many obstacles to overcome, so we must remain alert and prepared to deal with them. The modern era cannot be one of violence and strife.

While economic activity continues to vary among nations, it has shown to be more resilient than anticipated in many areas of the world.

However, as long-term conflicts continue to weigh on the world economy, some growth prospects have been dim.

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