Saudi Arabia's Vision 2030 and IMF Leadership Earn Global Recognition

KSA, 9 April, 2025 :  International Monetary Fund (IMF) Managing Director Kristalina Georgieva has commended Saudi Arabia for its continued and strong support for the IMF and the International Monetary and Financial Committee (IMFC). Speaking remotely at the IMFC meeting in Diriyah, she thanked Saudi Finance Minister Mohammed Al-Jadaan and highlighted the IMF’s enduring role in promoting macroeconomic and financial stability.

Saudi Arabia, an IMF member since 1957, currently chairs the IMFC, a key advisory body guiding the IMF’s strategic direction. The recent two-day IMFC deputies meeting, hosted under the Kingdom’s presidency, focused on global economic challenges, financial stability, and inclusive growth.

Minister Al-Jadaan praised the IMF’s leadership and reiterated the importance of international cooperation for economic resilience. He also highlighted the Kingdom’s economic transformation under Vision 2030, which the IMF recognized for its progress in diversification and modernization.

The IMFC sessions addressed issues such as uncertain trade flows, rising debt, infrastructure investment, and the impact of technological and demographic shifts. Members discussed the IMF’s role in supporting countries through tailored financial programs and regional cooperation.

A recent IMF study on Saudi fiscal space led to a reprioritization of Vision 2030 investments. Despite a 0.8% GDP contraction in 2023 due to oil production cuts, non-oil sectors grew by 3.8%, driven by private consumption and investment. The IMF also noted record-low unemployment and sustained high female labor force participation, exceeding Vision 2030 targets.