Dr. Ibrahim bin Abdulaziz Al-Assaf, Minister of Finance, led the Kingdom of Saudi Arabia's delegation to the spring meetings of the International Monetary Fund and the World Bank held in Washington 17-19, April, 2015 with participation of Dr. Fahd bin Abdulaziz Al-Mubarak, Governor of the Saudi Arabian Monetary Agency (SAMA) and a number of officials at the Ministry of Finance. In his speech before the International Monetary and Financial Committee of the International Monetary Fund, Al-Assaf highlighted the economic situation in the Kingdom and the situations of the global economy in addition to issues relating to the International Monetary Fund. He pointed out that the Kingdom's economy is still achieving good performance supported by public investment and good performance of the private sector, stressing that the Kingdom is capable of facing the current volatility in oil prices. In this context, Al-Assaf pointed out that the Kingdom of Saudi Arabia is still giving priority for investment programs in the fields of education, health and social services in order to achieve a sustainable and capable economy for creating jobs. He added that the rating agencies confirmed the strength and stability of the Saudi economy. Al-Assaf confirmed that the banking sector still maintains good rates of liquidity, profitability and capital, pointing out that recent reforms to strengthen regulation of the financial sector will help to support sustainable economic development and provide funding for small and medium enterprises. --More 20:05 LOCAL TIME 17:05 GMT تغريد
