IMF chief Christine Lagarde to visit Riyadh on 4 February
The managing director of the Washington-headquartered IMF, Christine Lagarde, is due to visit Riyadh on 4 February to seek Saudi Arabia’s investment in a $500bn bailout fund it is raising for indebted European nations.
High oil prices over the last few years have left Saudi Arabia in a position of great fiscal strength. The Saudi Arabian Monetary Agency (Sama) has total assets of more than $500bn, enough to fund 2.5 years of government spending at current levels.
Saudi Arabia announced plans to spend SR690bn ($184bn) in its 2012 budget, although economists expect the figure to be closer to be closer to SR750bn.
You might also like...
Lunate acquires 40% stake in Adnoc Oil Pipelines
26 April 2024
Saudi Arabia's Rawabi Holding raises SR1.2bn in sukuk
26 April 2024
Iraq oil project reaches 70% completion
26 April 2024
Samana announces $272m Dubai Lake Views project
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.