Saudi IMFC Deputy Alkhareif participates in Paris Forum 2024

On behalf of the finance minister, the Saudi Deputy of the International Monetary and Financial Committee (IMFC) at the International Monetary Fund (IMF), Dr. Ryadh Alkhareif, participated in the 11th Annual Paris Forum,  which was organized by the Paris Club with the support of the Brazilian Presidency of the G20, in the presence of a number of stakeholders and senior officials .

Dr. Alkhareif said in a speech during the meeting that the high level of debt risk that many countries face limits their financial capacity and hinders investment in vital areas—such as health care, education, and sustainable development—and confirms the necessity of adopting a strong and coordinated approach to debt management.

Alkhareif highlighted the Kingdom’s crucial role during its G20 presidency in addressing global debt issues through initiatives such as the Debt Service Suspension Initiative (DSSI) and the Common Framework.

Alkhareif indicated that Saudi Arabia calls for enhancing the efforts to further institutionalize the Common Framework, to ensure that the needs of low-income countries are met.  He stressed the Kingdom’s support for the efforts made to accelerate debt restructuring processes under the framework, with the aim of improving its predictivity, timeliness, and usefulness for the eligible countries.

The Paris Forum is held annually, bringing together world leaders, government officials, private sector leaders, and other prominent figures to discuss important global issues such as economics, politics, and the environment. It is considered an important platform for exchanging ideas and opinions and enhancing international cooperation. The Paris Forum aims to enhance international cooperation, exchange ideas to solve global challenges, and strengthen partnerships between the public and private sectors