The IMF and the Ministry of Finance of Saudi Arabia Hold the Second High-Level Strategic Dialogue on Capacity Development

IMF News, May 18, 2026

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Canonical URL: The IMF and the Ministry of Finance of Saudi Arabia Hold the Second High-Level Strategic Dialogue on Capacity Development

Event: Second high-level strategic dialogue between the IMF and the Ministry of Finance of Saudi Arabia.
Location and date: Riyadh, Saudi Arabia - May 18, 2026.
Purpose: Discussed the capacity development (CD) partnership, how the Saudi Arabia–IMF partnership can further economic reforms, and how to respond to increasing demand for CD from IMF member countries across the world, especially amid heightened global and regional uncertainty, including from the war in the Middle East.
Outcomes: Agreement on a suite of support to IMF capacity development across the Middle East, North Africa, Sub-Saharan Africa and globally; exchange of insights on priorities and strategies for economic growth and improved resilience of member countries in the Middle East and beyond.

Partnership commencement: The capacity development partnership between Saudi Arabia and the IMF commenced in 2024.
Financial commitment: $279 million over ten years.
Partnership ranking: Saudi Arabia is the third largest partner of the IMF’s capacity development work.
Strategic scope: Support is organized across three pillars covering:
- Middle East North Africa region (through the Regional Office in Riyadh, self-financed capacity development to Saudi Arabia, the Middle East Regional Technical Assistance Center (METAC), the Somalia Country Fund),
- Sub-Saharan Africa (through the IMF’s network for African Regional Capacity Development Centers),
- Global priorities (through the IMF’s thematic funds).

Purpose of the Regional Office in Riyadh: Strengthen policy dialogue in the region, improve regional coordination, and help respond to increased demand for capacity development; complement the work of the IMF’s Middle East Center for Economics and Finance (CEF) in Kuwait and METAC in Lebanon.
Reported activities and reach during fiscal year 2026:
- 31 activities across the MENA region and beyond.
- Targeted over 800 participants during the fiscal year 2026.
Strategic implication: The partnership and Regional Office activities have strengthened IMF capacity development to IMF member countries and illustrate the importance of partnerships to drive economic transformation and contribute to regional and global economic stability.

Co-chairs: Abdulmuhsen Alkhalaf, Vice Minister of Finance; and senior IMF leadership.
Saudi attendees listed: Abdullah bin Zarah, Assistant Minister; Turki Abalala, Assistant Deputy Minister; Mohamed Alrashed, Executive Director for Saudi Arabia at the IMF.
IMF attendees listed: Jihad Azour, Director of the Middle East and Central Asia Department; Catriona Purfield, Director of the Institute for Capacity Development; Bert Kroese, Chief Statistician, Data Officer, Director of the Statistics Department; Montford Mlachila, Deputy Director of the African Department; Franck Bousquet, Deputy Director of the Institute for Capacity Development; Abdoul Aziz Wane, Director of the Regional Office in Riyadh; Monique Newiak, Director of METAC.

International Monetary Fund, Press Release No. 26/155, May 18, 2026.