AlUla, Saudi Arabia: The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) are further deepening their cooperation under a renewed Memorandum of Understanding (MoU) signed today by Dr. Kristalina Georgieva, IMF Managing Director, and Dr. Fahad M. Alturki, Director General and Chairman of the AMF. The signature took place on the margins of the AlUla Conference for Emerging Market Economies, in AlUla, Saudi Arabia.
"Our shared purpose is clear: continue promoting macroeconomic and financial stability and inclusive growth in the Arab region. By combining our strengths and building on our already strong partnership, we can better support our members-especially in a period of high uncertainty and rapid transformation in the global economy." Dr. Georgieva said during the signing ceremony.
"Ensuring regional financial safety net for the Arab countries is a core pillar of the Arab Monetary Fund's work," Dr. Alturki said. "This new MoU will strengthen our longstanding partnership-particularly on surveillance, programs, data and analytical work-so that together we can better respond to the evolving needs of our common member countries."
Under the updated MoU, the AMF and the IMF will expand collaboration through closer alignment on surveillance and lending, deeper partnership on training and technical assistance, and enhanced information and data exchange. They will also strengthen regional statistical systems and expand knowledge sharing through joint analytical work and co-hosting of high-level policy forums on priority issues.
The agreement looks ahead through 2036 and builds on recent milestones-including the establishment of the IMF Regional Office in Riyadh and the approval in 2024 of a new AMF medium term strategy-to support the region's evolving needs.
