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Abdullah bin Zaraa named head of Saudi executive office at IMF
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Former UK chancellor to advise Saudi finance minister
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Saudi Arabia Appoints Former UK Chancellor To Advise Finance Minister
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DUBAI: Economic policymakers sometimes feel a little edgy when the International Monetary Fund (IMF) comes to town.
The 77-year-old global financial institution is not a regulator in the strict sense of the word, but it does have the power to deliver a positive or negative verdict on the way those policymakers ministers, central bankers, and officials are running their economy.
In extreme circumstances, the IMF can approve or withhold potentially life-saving funds from an economy in crisis. In more normal conditions, its verdict can have a big influence on the international credit ratings all countries use when accessing global capital markets.