Saudi Minister of Finance Attends High-Level Retreat for Bretton Woods Institutions

Aleqtsad

His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, attended the high-level retreat for Bretton Woods Institutions in New Hampshire, USA, held on September 26-27, 2024, which discussed the future paths of the IMF and the World Bank and the upcoming challenges.

The Bretton Woods institutions refer to both the International Monetary Fund (IMF) and the World Bank Group. Since their founding in 1944, the two institutions have played an important role in promoting international economic cooperation and sustaining the benefits of global integration. This includes supporting international trade, as the original Bretton Woods agreement also included plans for an International Trade Organization (ITO).

The two institutions seek to create a positive and sustainable impact globally amidst geopolitical tensions, economic disparities, and other pressing issues. This high-level retreat aims to outline long-term strategic objectives for these institutions and discuss approaches to enhance their performance based on current results and future global factors.