Finance Ministers and Governors of the Central Banks of the Group of Twenty (G20) held here yesterday a meeting on the sidelines of Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group. The participants discussed the latest global economic developments and pledged more than $430 billion to raise the resources of the International Monetary Fund (IMF). In line with the Kingdom's position as a major contributor in the international financial institutions and the Group of Twenty, Dr. Ibrahim Al-Assaf, Minister of Finance, said that the Kingdom of Saudi Arabia will contribute with the key Member States in these efforts through transforming part of the reserve currency of the investment in financial instruments such as bonds and term deposits in this program which has the same properties and investment criteria in such reserves, including liquidity, security, and appropriate return.
