Kuwait city: The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) have entered into a memorandum of understanding (MoU) aimed at enhancing cooperation between the two organizations. The agreement was signed on the sidelines of the AlUla Conference for Emerging Market Economies, marking a significant development in regional economic collaboration.
According to Kuwait News Agency, the MoU was signed by IMF Managing Director Kristalina Georgieva and AMF Director General Dr. Fahad Al-Turki. The agreement is focused on strengthening coordination in various economic and financial policy areas. This includes collaboration in surveillance and lending activities, exchanging data and analytical work, and capacity building. Additionally, the MoU aims to provide technical assistance to support financial and economic stability in the region.
The institutions highlighted that this agreement is a crucial step towards deepening their strategic partnership. It is expected to contribute to a more robust regional financial safety net and enhance member countries' capabilities in addressing economic challenges.
Earlier on Sunday, the AlUla Conference for Emerging Market Economies 2026 commenced in AlUla, Saudi Arabia. The event, organized in collaboration with the Saudi Ministry of Finance and the IMF, saw participation from Kuwait's Finance Minister Dr. Yaqoub Al-Refaei, along with other economic decision-makers. The conference aimed to discuss policies influencing the future of emerging market economies.