Hijjah 06, 1431, Nov 12, 2010, SPA -- Minister of Finance Dr. Ibrahim Ala'ssaf said the kingdom plays an important role in the world economy especially at international financial institutions. In a statement to Saudi Press Agency after the conclusion of the G20 Summit today, he highlighted the kingdom's role in following up the interests of the developing, Arab and Islamic countries at the G20. He added the kingdom's weight makes the kingdom's role influential on decisions taken by the G20. He highlighted the summit's decisions concerning the kingdom including those pertaining to the International Fund's share allocation stating that it was agreed to increase loans to developing and emerging countries in the fund mainly at the expense of developed nations. The minister also highlighted the meeting's results concerning aid to poor countries, financial sectors' monitoring, world economy and rate exchange. On the kingdom's participation in the summit, he said the kingdom held a workshop on energy in Riyadh about three weeks ago and members of the G20 attended and through it, focus was put on the importance of the security of energy concerning supply and demand namely that consumer countries shall not make policies that lead to lowering or destabilizing demand on oil. He added that the kingdom also participated in the development work group "as this subject is of interest to the kingdom and it was not rated as a developing country and it is very active in the field of development and therefore, we participated with the presidency country, South Korea, in the work group which prepared the work program to help developing nations."
