19 April 2022, Washington DC: His Excellency, Minister of Finance, Mr. Mohammed Al-Jadaan, is heading the Kingdom's delegation participating in the Spring Meetings of the International Monetary Fund (IMF) and World Bank, to be held in Washington, DC, from 19-24 April 2022.
The delegation includes His Excellency Dr. Fahad Almubarak, Governor of the Saudi Central Bank (SAMA), Mr. Sultan Al-Marshad, Acting CEO of the Saudi Fund for Development (SFD), as well as a number of officials from the Ministry of Finance and Saudi Central Bank, and the Saudi Fund for Development.
During the week, the Minister will participate in the meetings of both the International Monetary and Financial Committee (IMFC) of the IMF and the Development Committee of the World Bank Group (WBG). The IMFC will discuss the Managing Director's Global Policy Agenda, including the world economic outlook, repercussions of the conflict in Ukraine, as well as providing vital support for members to ensure a transformational and inclusive recovery. The Development Committee will discuss the evolving global development landscape, including the impact of the conflict in Ukraine, as well as the work to address debt vulnerabilities in low-income countries, including the progress made on implementing the G20 Common Framework. It will also discuss digitalization and its role in supporting sustainable development, leveraging lessons learned from the COVID-19 pandemic.
H.E. the Governor of the Saudi Central Bank will attend the Financial Stability Board (FSB) Steering Committee Meeting and the Financial Action Task Force (FATF) Ministerial Meeting. The FSB Meeting will discuss the Financial Stability Board 2022 Workplan and how to enhance it, as well as the latest financial stability developments.
On the sidelines of the IMF-World Bank Spring Meetings, the Minister and Governor will attend the Second G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting on 20 April 2022 under the Indonesian Presidency. The meeting will foster in-depth discussions on key topics related to the important changes to the global economic outlook since their February meeting, including the economic and financial implications of the conflict in Ukraine. FMCBG will also discuss mechanism for pandemic prevention, preparedness, and response, as well as the ongoing efforts to maximize the impact of the Special Drawing Rights (SDRs) channeling. They will also share inputs on the implementation of the Common Framework for Debt Treatment beyond the DSSI and next steps to address debt vulnerabilities.