RIYADH: Ƶ has reiterated its commitment to bolstering the global economy, with the governor of the Kingdom’s central bank, Ayman Al-Sayari, highlighting the nation’s pivotal role as a catalyst for financial stability.
Speaking at the G20 Summit in India, Gov. Al-Sayari underscored Ƶ’s position as an active and influential member dedicated to supporting international efforts aimed at ensuring global economic stability.
In a statement to the Saudi Press Agency, the governor said: “The Kingdom is playing an important role when it comes to supporting the continued recovery of the global economy and maintaining financial stability, in addition to the significant efforts it is exerting to ensure the achievement of the G20 summit objectives and support multilateralism in international economic and financial cooperation.”
He also emphasized that Ƶ extends its support to both regional and Islamic countries, given its unique status as the sole Arab state within the G20 group.
Al-Sayari said that “the participation of Crown Prince Mohammed bin Salman in the G20 summit in India consolidates Ƶ’s position among the group’s member states as an effective and influential member when it comes to supporting the international efforts aimed at achieving global economic stability.”
The governor also made reference to Ƶ’s chairmanship of the G20 in 2020, during which the Kingdom spearheaded initiatives aimed at global economic recovery, promoting financial inclusion, and providing support to the world’s most impoverished nations, especially in combatting the repercussions of the COVID-19 pandemic.
The Saudi delegation, which includes representatives from SAMA and the Ministry of Finance, has actively taken part in three G20 meetings this year. These meetings have been centered around various pivotal initiatives, including financial sector legislation, sustainable financing, and the establishment of global partnerships to promote financial inclusion.
Throughout the summit, discussions have been focused on the slowdown of global economic growth, rising inflation rates, surging global debt levels, and the varying economic policies pursued by nations.
“We cooperated with the presiding member state and the rest of the G20 countries to agree on the most important measures and outcomes related to the financial path, which include measures related to central banks, particularly financial sector legislations and the international partnership for financial inclusion and sustainable finance,” he said.
Al-Sayari further underscored that the G20’s goals and objectives, particularly regarding financial stability and sustainable development, closely align with the ambitions outlined in Ƶ’s Vision 2030.
