Finance Minister and IMF Managing Director Discuss Updates on the Fund's Center Financing Memorandum in Manama

Manama, 1 October (KUNA) -- Kuwait’s Minister of Finance, Dr. Yaqoub Al-Rafai, held talks today in Manama with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the latest developments regarding the memorandum of understanding (MoU) for financing the IMF Center in Kuwait.

The Ministry of Finance said in a statement that the meeting discussed the steps and arrangements needed to complete the procedures for signing the MoU, reflecting Kuwait’s commitment to strengthening cooperation and coordination frameworks with the IMF and supporting its role in financial and economic areas of mutual interest.

For her part, the IMF Managing Director praised during the meeting 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, effective crisis management, the deployment of robust financial buffers, and prudent monetary policies aimed at protecting vital economic sectors and achieving sustainable recovery.

The meeting also 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 MoU on financing 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.

The meeting took place on the sidelines of Kuwait’s participation in the 126th meeting of the Financial and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) Council. (End) K.N.A. / M.A.A.