Finance Minister meets IMF Managing Director to discuss enhancing financial and economic cooperation

Finance Minister Dr. Yaqoub Al-Rafai met with Managing Director of the International Monetary Fund, Kristalina Georgieva. During the meeting, they discussed the latest developments regarding the memorandum of understanding for the financing of the IMF Center in Kuwait, and examined the necessary steps and arrangements to complete the procedures for signing the memorandum. This reflects Kuwait’s commitment to strengthening cooperation and coordination frameworks with the IMF, and supporting its role in financial and economic areas of mutual interest.

The Managing Director of the IMF praised Kuwait’s pivotal and dynamic role in advancing economic and financial stability in the region. She noted that Kuwait’s success in containing the repercussions of the recent crisis stems from sound policies and effective crisis management, alongside the utilization of robust financial buffers and prudent monetary policies to protect vital economic sectors and achieve sustainable recovery.

In conclusion, both sides reaffirmed Kuwait’s ongoing commitment to enhancing coordination frameworks and strategic partnership with the IMF, and to completing the study of all necessary procedures and arrangements for signing the memorandum of understanding for the financing of the IMF Center in Kuwait. This will contribute to supporting and delivering training courses and developing cooperation in financial and economic areas of mutual interest.