Speaking in Washington at the International Monetary Fund (IMF) and the World Bank (WB), the Minister of Finance, Ibrahim Bin Abdulaziz Al-Assaf leader of the Saudi delegation to the joint annual meetings spoke about the risks facing the global economy as a result of the exacerbating current financial crisis, stressing the need for concerted efforts to address its possible impact on every country in the world. He discussed the impact the crisis would have on developing countries and that the leading role in confronting the problem must come from the developing countries themselves. He praised the efforts of the WB in helping developing countries, address the economic impact caused by rising food prices and energy, noting the efforts made by the WB in response to the “energy for the poor” initiative launched by the Custodian of the Two Holy Mosques, King Abdullah at Jeddah Energy conference.
