AlQa'dah 20, 1433, Oct 6, 2012, SPA -- Minister of Finance Dr. Ibrahim bin Abdulaziz Al-Assaf, who is also the Chairman of the Gulf Cooperation Council (GCC) Member States' Financial and Economic Committee, stressed that the Kingdom of Saudi Arabia which provided the International Monetary Fund (IMF) with $ 15 billion to boost world economy, is still negotiating with the IMF to raise its stake in IMF. In a joint press conference held in the presence of the GCC Secretary General Dr. Abdullatif Al-Zayani and the Managing Director of the IMF Christine Lagarde, Dr. Al-Assaf pointed out that the Kingdom's contribution is divided into two parts, the first is the loans which are provided and the second is raising the Kingdom's stake in the IMF capital. The Minister of Finance said that the meeting with Lagarde discussed a number of important issues, including the global economic situation, expectations of the economic growth, the situations in Europe, the United States of America and other global countries and the dialogue on the GCC economic policies in addition to ways of enhancing cooperation between the GCC council and IMF. Dr. Al-Assaf pointed out that the role of the GCC Member States in supporting IMF efforts, financial cooperation and stakes of the GCC council in the capital were also discussed.
