(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 24. The InternationalMonetary Fund (IMF) will open a new regional office in Riyadh,Saudi Arabia, Trend reports.
According to the IMF, the new office will scale up capacitybuilding, regional surveillance, and outreach to promote stability,growth, and regional integration. Abdoul Aziz Wane was appointedthe first director of the regional office.
The two-day conference organized by the IMF and Saudi Arabia'sMinistry of Finance on April 24-25 in Riyadh launches theoperations of the IMF regional office in Riyadh. The conferenceaims to review industrial policy's key principles and draw lessonsfrom its successes and setbacks in other regions, including Asianmiracles. The theme is important for the region's oil-richeconomies, as they embark on ambitious reforms to diversify theireconomies by reorienting resources toward tradable activities, andproviding good-paying jobs for citizens.
The conference will bring together regional and internationalpolicymakers, as well as leading economists on industrial policy will be opened by Faisal bin Fadhil Alibrahim, Minister ofEconomy and Planning, Kingdom of Saudi Arabia. Jihad Azour,Director of the IMF's Middle East and Central Asia Department willclose the conference with a roundtable discussion betweenpolicymakers from the Gulf Cooperation Council region.
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