IMF, AMF deepen partnership with updated MoU

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) renewed their Memorandum of Understanding (MoU) on Sunday. The signing took place on the sidelines of the AlUla Conference for Emerging Market Economies. The updated MoU sets out a decade-long cooperation framework through 2036, aiming to strengthen macroeconomic and financial stability and promote inclusive growth across the Arab region.

Under the agreement, the IMF and AMF will align their surveillance and lending activities, expand technical assistance and training, and enhance the exchange of data and analytical work. The partnership will also support regional statistical systems and co-host high-level policy forums on priority economic issues.

Kristalina Georgieva, IMF Managing Director, highlighted the importance of the strengthened partnership, noting that combining the funds’ expertise would better support member countries during periods of global uncertainty and economic transformation. Meanwhile, Fahad M. Alturki, Director General of the AMF, emphasised that the MoU reinforces the AMF’s role in providing a regional financial safety net, particularly through collaboration on surveillance, programmes, and analytical work.

The MoU builds on recent milestones, including the IMF’s Regional Office in Riyadh and the AMF’s 2024 medium-term strategy, reflecting a shared commitment to meeting the evolving economic needs of Arab countries.

Attribution: Amwal Al Ghad English