Saudi Arabia concludes participation in World Bank, IMF annual meetings in Bangkok

Finance Minister Mohammed Al-Jadaan represented Saudi Arabia at the 2026 World Bank and IMF annual meetings in Bangkok, underscoring the country's significant position in the global economy. The meetings took place from October 12 to 17, 2026, with the IMF declaring an extension of Al-Jadaan's chairmanship of the International Monetary and Financial Committee until January 2028. He also attended the third G20 finance ministers and central bank governors meeting, chaired by the United States.

During the session on Current Economic Developments, Al-Jadaan emphasized that aggression against Saudi Arabia endangers the global economy and highlighted the Kingdom's crucial role in bolstering economic resilience against shocks. He chaired the International Monetary and Financial Committee meeting, where participants discussed global economic trends and strategies to foster growth and stability amid geopolitical and trade tensions, supply chain disruptions, and increasing public debt.

Al-Jadaan stressed the importance of economic policies and structural reforms to support private sector-led growth, international cooperation, energy security, and debt management, especially in low-income and fragile states. The group reaffirmed their commitment to a robust IMF and emphasized the need to apply the Diriyah Principles in future discussions on quota and governance reforms to strengthen the Fund's effectiveness and member representation.

Al-Jadaan, during meetings with IMF Managing Director Kristalina Georgieva and finance ministers from various regions, underlined the significance of efficient buffer management to cope with prolonged economic shocks and stay prepared for future challenges. He highlighted economic diversification, energy and food security, and resilient supply chains as key elements in creating more robust economies.

At the joint Development Committee session, Al-Jadaan stressed that both institutions must lead the global response to international challenges to peace, development, and prosperity, easing pressure on public finances.

In discussions with Arab governors and World Bank Group President Ajay Banga, Al-Jadaan stated that crises can accelerate progress, and sound decisions today will shape a stronger, more prosperous future for generations to come. He encouraged the group to consider the needs of various countries, help them transform resources into opportunities that promote local content and quality jobs, and empower the private sector to develop adaptable logistics services and better integrate into global supply chains.

Al-Jadaan praised the World Bank and IMF for aiding countries impacted by regional conflicts, including Yemen and Syria, and called for more efforts to address the scale of existing challenges. He encouraged them to innovate solutions for supporting Palestine and Sudan, building on prior successes in this area. Al-Jadaan also met with officials and leaders of international financial institutions and credit rating agencies to discuss global economic developments and policies that promote stability.