Saudi finance minister is new chair of key IMF panel

Arabian Post Staff

The members of the , have selected Saudi Arabia’s Minister of Finance Mohammed Aljadaan will be the new Chair of the International Monetary and Financial Committee (IMFC), the policy advisory body of the Board of Governors of the International Monetary Fund (IMF). The term is for three years.

Aljadaan will succeed Ms. Nadia Calviño, Spain’s First Vice President and Minister for Economic Affairs and Digital Transformation, who has chaired the IMFC since January 3, 2022.

Prior to his ministerial appointment in November 2016, Aljadaan served as Chair of the Board of the Capital Market Authority of Saudi Arabia. Before that, he worked as a private lawyer specializing in commercial law, finance and financial market transactions, privatization, and partnership between the public and private sector.

At the international level, Aljadaan serves on the Ministerial Council of the OPEC Fund for International Development, the Boards of Governors of the International Monetary Fund and World Bank, the Board of Governors of the Arab Monetary Fund, the Board of Governors of the Islamic Development Bank, and the Board of Governors of the Asian Infrastructure Investment Bank.

He also heads Saudi Arabia’s delegation to the meetings of G20 Finance Ministers and Central Bank Governors and is also a member of the Board of Directors of the Saudi Public Investment Fund and the Board of Directors of Saudi Aramco.

Aljadaan previously presided as the Chair of G20 Finance Track during the Saudi G20 Presidency in 2020, a year marked by unprecedented global challenges.

The IMFC, comprising finance ministers and central bank governors, is the primary policy advisory body of the Board of Governors of the International Monetary Fund (IMF) and deliberates on the principal policy issues facing the IMF. The Committee has 24 members, reflecting the composition of the IMF Executive Board. Each member country or group of countries that elects an Executive Director also appoints a member of the Committee. The IMFC normally meets twice a year—in the spring and during the IMF/World Bank Annual Meetings in the fall. Its next meeting is scheduled to be held in April 2024, in Washington, D.C.

Also published on Medium.