Al-Rifai and Gorgeeva Discuss Financing for IMF Center in Kuwait

Finance Minister Dr. Yaqoub Al-Rafai met with International Monetary Fund (IMF) Managing Director Kristalina Georgieva on the sidelines of Kuwait’s participation in the 126th meeting of the Monetary and Economic Cooperation Committee of the Gulf Cooperation Council (GCC) in Manama, the Bahraini capital. During the meeting, the latest developments regarding the memorandum of understanding (MoU) for financing the IMF center in Kuwait were discussed, along with the necessary steps and arrangements to complete the signing procedures. This reflects Kuwait’s commitment to strengthening cooperation and coordination frameworks with the IMF and supporting its role in areas of mutual interest in the financial and economic fields.

Georgieva praised Kuwait’s pivotal and dynamic role in driving 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, and the utilization of robust financial buffers and balanced monetary policies to protect vital economic sectors and achieve 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.