Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan reviewed today at the high-level seminar held under the title "reform priorities for tackling debt", at the annual meetings of the IMF and the World Bank.. In his intervention, he reviewed the kingdom's efforts to enhance the sustainability of the public debt of low-income countries, pointing to the initiatives launched by the kingdom during its presidency of the group of twenty in 2020, including the initiative to suspend debt service payments and the common framework initiative, and stressed the need to intensify efforts to enhance work in the implementation of the common framework initiative, as it is the most comprehensive mechanism to involve all stakeholders in effectively reducing the debt burden, and urged international organizations to provide the necessary support to countries in need to help them face the challenges of high borrowing costs and public debt.
The seminar was held in the presence of a number of finance ministers, central bank governors and heads of international and regional organizations, in the Moroccan city of Marrakech.

The seminar was held on the sidelines of the annual meetings of the IMF and the World Bank for 2023, where ways were discussed and discussed to enhance the debt risk resilience of low-income countries, including domestic reforms that contribute to enhancing economic growth, improving spending policies, increasing domestic revenues, and supporting debt management.

The seminar was attended by the director general of the International Monetary Fund, Ms. Kristalina Georgieva, the president of the World Bank, Mr. Ajay Banga, the minister of Finance and national planning of the Republic of Zambia, Dr. situmbiko musukutwani, and professor of law and international finance at Georgetown University, Ms. Anna Gilburn.

The speakers highlighted a number of important topics, including: the importance of increasing support from the international community through the provision of concessional financing, as well as improvements in sovereign debt restructuring processes to predict and alleviate debt burdens in a timely manner .