Riyadh, Saudi Arabia -- Saudi Arabia's international reserve assets decreased by SAR 26.98 billion, or 2 percent, to SAR 1.619 trillion ($431.65 billion) in February 2024, compared to the previous month. On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi...
‘Qatar’s economy is shining example of reforms’
The contribution of the non-oil sector to the growth of the economy is the strongest in the Gulf region, which indicates that the diversification that has been followed over the past years is bearing fruit, adds Georgieva during an interview on the sidelines of the Qatar Economic Forum in Doha.IMF unveils new trust to help ‘vulnerable’ countries
The IMF plans to raise at least $45 billion for a new trust to help ‘low-income and vulnerable middle-income countries’.
IMF’s SDR allocation to benefit rich MENA nations
The SDR is an international reserve asset, created by the IMF in 1969 to supplement its member countries’ official reserves.
Developing countries to get $275bn of IMF reserves
Managing Director IMF Kristalina Georgieva said the largest allocation in history, about $650 billion in Special Drawing Rights, was a “significant shot in the arm for the world” to combat the economic distress caused by the Covid-19 pandemic. She said the IMF was encouraging rich countries that receive SDRs to...IMF suspends Afghanistan’s access to SDR resources
The IMF is expected to complete a $650 billion allocation of Special Drawing Rights, the fund’s unit of exchange based on dollars, euros, yen, sterling and yuan, on Monday, to its 190 member countries in proportion to their shareholdings in the fund.
