Statement - International Monetary and Financial Committee
· Ayman M Al-Sayari, Governor of the Saudi Central Bank (Saudi Arabia)
Summary written by Dark Majestic in its own words · topics: financial stability, climate, energy and nature, public finances and debt, trade, fragmentation and geopolitics
AM · Ayman M Al-Sayari · Saudi Central Bank WikiStatement - International Monetary and Financial CommitteeContextWritten statement by the Governor of the Saudi Central Bank to the IMF's International Monetary and Financial Committee, in Washington.
Why it mattersSaudi Arabia's statement to the IMF committee, comparing the size of the new supply shock with the post-pandemic energy shock.
Problems raised- The Middle East war tests the global economy and multilateralism.
- The supply shock may exceed the post-pandemic energy shock.
- Growth is weak, debt high and policy space limited.
Solutions proposed- Keep the IMF focused on its core stability mandate.
- Use forward-looking, credible policy frameworks.
- Build resilience through structural reforms, as Saudi Arabia did.
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