BANGKOK — The International Monetary Fund (IMF) announced a one-year extension of Minister of Finance Mohammed Al-Jadaan's term as Chair of the IMF’s International Monetary and Financial Committee (IMFC), until January 2028, after completing his original three-year term. The extension followed the minister's acceptance of the committee members' request to extend his chairmanship. The IMFC is the IMF's principal ministerial advisory body, responsible for providing strategic guidance on the fund’s priorities and deliberating on key issues affecting the international monetary and financial system. The committee represents the IMF’s 191 member countries through 25 members, comprising finance ministers and central bank governors.The extension was agreed unanimously by Committee members, with the support of IMF management, in recognition of Saudi Arabia’s successful chairmanship in fostering international consensus on economic and financial issues amid economic challenges and heightened uncertainty, as well as in appreciation of the Kingdom’s initiatives and steadfast commitment to promoting dialogue and strengthening multilateral cooperation.