Saudi Gazette report
WASHINGTON — International Monetary Fund (IMF) Managing Director Kristalina Georgieva thanked Saudi Arabia for accelerating support for the war-stricken Syria, revealing that she had received an invitation to visit the country.
She made the remarks while addressing a joint press conference with Saudi Finance Minister Mohammed Al-Jadaan, chairman of the International Monetary and Financial Committee, which comprises the IMF’s 191 member countries.
Al-Jadaan said that the global economy is undergoing a profound transformation that creates both opportunities and challenges. He stressed that the priority is to address debt burdens, affirming continued support for governments to undertake productive investments and repay their debts on time."
Meanwhile, Al-Jadaan and Saudi Central Bank (SAMA) Governor Ayman Alsayari concluded their participation in the fourth G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting under the South African Presidency, held on October 15 and 16, in Washington, DC, on the sidelines of the World Bank Group-International Monetary Fund Annual Meetings.
In his speech, Al-Jadaan emphasized that the global economy faced several challenges this year, some of which may extend into 2026 as the effects of major shifts continue to influence policies. He clarified that the solution does not lie in withdrawing from the multilateral trading system, but in collective efforts to improve it in order to strengthen trust and promote long-term investments.
Al-Jadaan also stressed that a commitment to fiscal discipline and public debt sustainability constitutes a fundamental pillar of macroeconomic stability, and it requires enhanced transparency, sound financial governance, and improved spending efficiency. He pointed out that rapid developments in technological innovations—such as artificial intelligence and other digital assets—require proactive regulatory frameworks that balance the exploitation of opportunities with risk mitigation. He urged international financial institutions to provide clear guidance to help countries align their national policies with global financial stability.
Within the discussions on solutions to support Africa’s growth, the minister highlighted that the continent represents a region of increasing importance for global growth. He noted the need for solutions that are practical and implementable, focusing on reducing capital costs, stimulating private investment, and supporting financial sustainability.
Al-Jadaan affirmed that achieving sustainable progress in Africa requires the support of multilateral institutions to implement structural reforms that enhance productivity and create favorable conditions for private sector-led growth. He also noted that the Kingdom’s partnership with Africa is well-established, having financed numerous projects in infrastructure, energy, and health across more than 40 African countries.
He concluded by emphasizing the pivotal role of the G20 in advancing the global financial reform agenda, strengthening debt resolution frameworks, and encouraging public-private cooperation to build a more resilient, inclusive, and sustainable global financial system.