The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) have strengthened their partnership through a renewed Memorandum of Understanding (MoU), signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad M. Alturki. The signing took place during the AlUla Conference for Emerging Market Economies in AlUla, Saudi Arabia, reflecting both institutions’ commitment to promoting macroeconomic and financial stability, as well as inclusive growth across the Arab region.
Dr. Georgieva emphasized that the updated MoU builds on the existing strong partnership, enabling the IMF and AMF to better support their member countries amid global economic uncertainty and rapid transformation. Dr. Alturki highlighted that the agreement strengthens the regional financial safety net for Arab countries, particularly through enhanced collaboration on surveillance, lending, data analysis, and technical programs, allowing both institutions to respond more effectively to the evolving needs of member states.
Under the new agreement, the IMF and AMF will deepen cooperation across several areas, including alignment on surveillance and lending activities, expanded training and technical assistance, improved information and data exchange, and strengthened regional statistical systems. The MoU also sets the stage for joint analytical work and the co-hosting of high-level policy forums on priority issues, fostering greater knowledge sharing and collaboration.
The MoU extends through 2036 and builds on recent milestones, such as the establishment of the IMF Regional Office in Riyadh and the approval of the AMF’s medium-term strategy in 2024. Together, these measures aim to support the Arab region’s evolving economic and financial needs over the coming decade.
