The International Monetary Fund (IMF) will open its regional office in Saudi Arabia, 24NewsHD TV channel reported on Tuesday.
The Saudi Majlis-e-Shura that met with Vice President Dr Meshaal Al-Salami in the chair approved the opening of the IMF regional office
The move is aimed at maintaining cooperation between the IMF and the GCC countries and expanding the scope of the fund's activities.
Opening a new regional office in Saudi Arabia holds significance as the IMF expects the Kingdom to become one of the world’s fastest-growing economies, recording a growth of 7.6 per cent in the gross domestic product this year.