Bangkok:The Kingdom of Saudi Arabia's delegation, led by Minister of Finance Mohammed Aljadaan, has wrapped up its involvement in the 2026 World Bank Group (WBG) and International Monetary Fund (IMF) Annual Meetings held in Bangkok, Thailand. The meetings took place from October 12 to 17, 2026.
According to Saudi Press Agency, during the meetings, the IMF announced a one-year extension of Minister Aljadaan's term as Chair of the International Monetary and Financial Committee (IMFC), extending it until January 2028.
Minister Aljadaan also participated in the G20 Finance Ministers and Central Bank Governors' meeting under the United States' presidency. In discussions on "Current Economic Developments," he pointed out that attacks against Saudi Arabia pose a risk to the global economy and emphasized the Kingdom's significant role in bolstering the global economy's resilience against disruptions.
Additionally, Minister Aljadaan chaired an IMFC meeting where members discussed global economic developments and strategies to promote growth and stability amid geopolitical and trade tensions, supply chain issues, and increasing public debt. The importance of economic policies and reforms that encourage private sector-led growth, international cooperation, energy security, and addressing debt challenges particularly in low-income countries was highlighted.
Minister Aljadaan underscored the necessity of a strong IMF and noted that future discussions on quota and governance reform should adhere to the "Diriyah Guiding Principles" to enhance the fund's efficacy and representation.
In a meeting with finance ministers and central bank governors from the Middle East, North Africa, Afghanistan, and Pakistan, Minister Aljadaan emphasized managing economic buffers efficiently to handle prolonged shocks while maintaining the ability to tackle future challenges. He also stressed economic diversification and the significance of resilient supply chains in ensuring energy and food security.
At the joint World Bank Group and IMF Development Committee meeting, Minister Aljadaan called for leadership in global economic response efforts to alleviate pressure on public finances amidst unprecedented challenges to peace, development, and prosperity. He also noted the potential to accelerate progress by making informed decisions today to secure a prosperous future.
During the Arab Governors' Meeting with World Bank Group President Ajay Banga, Minister Aljadaan encouraged leveraging crises as opportunities to make strategic decisions that support local content and job creation. He urged empowering the private sector for resilient logistics and integration into global supply chains.
Minister Aljadaan praised the World Bank Group and IMF's support for conflict-affected countries like Yemen and Syria and advocated for increased efforts to match the scale of challenges. He encouraged finding innovative solutions to aid Sudan and the State of Palestine by drawing on successful past experiences.
On the sidelines, Minister Aljadaan engaged with officials, heads of international financial institutions, and credit rating agencies to discuss global economic developments and stability policies. Saudi Deputy Minister of Finance for International Relations Khalid Bawazier participated in a roundtable on World Bank support for Syria's recovery, focusing on the Syrian government's priorities and the role of donor countries, including Saudi Arabia, in supporting reforms and reconstruction.