Al-Omair: Saudi commitment to combat illicit financial flows

The Kingdom affirmed its commitment to international cooperation to combat illicit financial flows and to promote good practices regarding the recovery of financial assets. This came in her speech during the general discussion of the item “Issues Related to Macroeconomic Policies (17)” within the work of the (Second) Economic and Financial Committee at the 75th Session of the Assembly The General Assembly of the United Nations, which was presumably delivered by a member of the Kingdom’s permanent delegation to the United Nations, Third Secretary Reem Bint Fahad Al-Omair, yesterday and reaffirmed that the programs and initiatives of the Kingdom’s Vision 2030 contribute to enhancing transparency, developing policies and procedures, and filling gaps through which corruption can penetrate.

She stated that through its presidency of the Group of Twenty countries this year, the Kingdom was able to work to unify and coordinate efforts globally, as it took the initiative to hold an exceptional summit for the global response to the effects of the pandemic. It also provided an amount (500) million dollars to support international efforts to combat the epidemic, and an amount (100) million dollars to the World Health Organization. It indicated that several steps were taken to enhance its financial position, as it sought to develop debt management approaches, access to international markets, and increase the ability to borrow without negative impacts on domestic liquidity.

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