Al-Jadaan: Saudi investments mitigated impact of energy shock on global economy

BANGKOK — Saudi Minister of Finance Mohammed Al-Jadaan affirmed that investments by countries such as Saudi Arabia had helped mitigate the impact of the energy shock on the global economy. “The shock would have been far more severe without these investments,” he said.

Al-Jadaan, who is also chairman of the International Monetary and Financial Committee (IMFC) of the International Monetary Fund (IMF), made the remarks during a joint press conference with IMF Managing Director Kristalina Georgieva at the conclusion of the IMF and World Bank Annual Meetings in Bangkok, which addressed global economic challenges and monetary and financial developments.

Al-Jadaan stated that the global economy continues to face profound challenges despite demonstrating a remarkable degree of resilience. He warned that financial vulnerabilities were intensifying amid rising public debt and higher sovereign bond yields. He underscored the importance of central bank independence in maintaining price stability and strengthening the credibility of monetary policy.

Meanwhile, members of the IMFC reaffirmed their support for countries facing debt-related risks and stressed the need to ensure that the IMF is equipped to assist low-income countries.

The IMFC noted that advances in artificial intelligence technologies had contributed to generally stable growth, although economic outcomes varied. It also reaffirmed the continued commitment of central banks to maintaining price stability.

The IMFC statement further highlighted that wars and conflicts continue to exact a heavy human and economic toll, leaving adverse repercussions on affected economies.

On the sidelines of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group, Al-Jadaan met with German Finance Minister Lars Klingbeil. They discussed ways to strengthen bilateral relations and a range of issues of mutual interest.

Al-Jadaan also chaired a meeting of the IMFC, which examined the challenges confronting the global economy, ways to safeguard supply chain security, and means of leveraging technological and logistical capabilities to promote stability and sustainable growth.