IMF, Arab Monetary Fund sign MoU to strengthen regional economic cooperation

JEDDAH, Feb 8 (KUNA) -- The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on Sunday on the sidelines of the AlUla Conference for Emerging Market Economies, aimed at enhancing cooperation between the two institutions.
According to the Saudi Press Agency (SPA), the MoU was signed by IMF Managing Director Kristalina Georgieva and AMF Director General Dr. Fahad Al-Turki.
The SPA noted that the MoU seeks to strengthen coordination in economic and financial policy areas, including collaboration in surveillance and lending activities, data and analytical work exchange, capacity building, and the provision of technical assistance to support financial and economic stability in the region.
Both sides emphasized that the agreement represents an important step toward deepening the strategic partnership between the institutions, contributing to a stronger regional financial safety net, and enhancing member countries' ability to respond to economic challenges.
Earlier on Sunday, the second edition of the AlUla Conference for Emerging Market Economies 2026 was launched in AlUla, Saudi Arabia, in partnership with the Saudi Ministry of Finance and the IMF, with participation from Kuwait's Finance Minister Dr. Yaqoub Al-Refaei and other economic decision-makers to discuss policies shaping the future of emerging market economies. (end) fn.aa