SAMA Governor stresses importance of global economy flexibility amid current challenges

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA)

Ayman Al-Sayari, Governor of the Saudi Central Bank (SAMA), stressed the importance of the global economy flexibility amid the current challenges and the balance of risks that threaten economic prospects.

At the IMF/WB 2024 Spring Meetings, held in Washington, DC, Al-Sayari pointed to the continued widening of the growth gap between regions and countries, the weakness of food security, and the increase in vulnerabilities related to sovereign debt.

He stressed the importance of commitment to international cooperation as well as a fair and open global trading system, to enhance the resilience, prosperity, strength of the global economy, especially for low-income countries.

The governor pointed out to the need to shift policy focus towards enhancing financial sustainability to rebuild reserves, protect public finances, and support the slowdown in.