Arab Press

بالشعب و للشعب
Friday, Sep 12, 2025

Al-Jadaan commends efforts of World Bank, IMF in field of capacity building

Al-Jadaan commends efforts of World Bank, IMF in field of capacity building

Minister of Finance Mohammed Bin Abdullah Al-Jadaan has participated in the Global Sovereign Debt Roundtable, which was held in Bengaluru, India, to discuss the issue of international sovereign debts as part of the first meeting of finance ministers and central bank governors of the G20, presided over by India.
During the meeting, Al-Jadaan explained that the joint action plan is considered the sole and comprehensive framework for new creditors and the ‘‘Paris Club” conventional creditors relying on restructuring debts, which has proved efficiency in the initiative to resolve the Chad Republic’s debts.

The minister commended the efforts of the World Bank and the International Monetary Fund (IMF) in the field of capacity building, calling for more intensified efforts in light of the risks posed by the increasing debts of several countries.

He also stressed the importance of involving multi-sides banks and regional financial institutions in collective efforts to address sovereign debts, citing their pivotal role in mitigating the debt risks.

Al-Jadaan also underlined the need to institutionalize the joint framework and look into ways to enhance the role of multi-sides development banks in dealing with debt risks for needy countries, highlighting the role of the private sector in this regard.

India’s Prime Minister Narendra Modi had earlier stated policymakers of the G20 leading economies should focus on helping the world’s most vulnerable people.

“You represent the leadership of global finance and economy at a time when the world is facing serious economic difficulties,” Modi said on Friday in a video address to the finance ministers, central bank governors and other leaders attending the two-day meeting.

“It is up to you, the custodians of the leading economies and market systems ... to bring back stability, confidence and growth to the global economy,” he said.

The meetings in Bengaluru are due to touch on a wide range of issues including digital currencies and payments, reform of institutions like the World Bank, climate change and financial inclusion.

At the G20 meeting, Modi added his voice to calls for the reform of global lenders such as the World Bank. “Trust in international financial institutions has eroded. This is partly because they have been slow to reform themselves,” he said.

The remarks echoed calls by others for the World Bank to boost lending and widen its remit beyond tackling poverty, although this has raised concerns that it could lose its top-notch credit rating.

World Bank chief David Malpass earlier this month said he was stepping down a year early. Nominated by former US President Donald Trump, Malpass came under fire last year after he refused multiple times to say if he believed man-made emissions contributed to global warming. On Thursday, Washington nominated Indian-American former Mastercard CEO Ajay Banga as his successor.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
×