Saudi initiative exempts less-developed countries from $6bn debt

1 / 6
Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
2 / 6
Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
3 / 6
Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
4 / 6
Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
5 / 6
Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
6 / 6
Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
Updated 31 October 2018
0

Saudi initiative exempts less-developed countries from $6bn debt

  • The figure was revealed during a meeting of the Saudi Cabinet on Tuesday chaired by King Salman

JEDDAH: Saudi Arabia has canceled $6 billion of debt owed to the Kingdom from the least developed countries.
The figure was revealed during a meeting of the Saudi Cabinet on Tuesday chaired by King Salman.
The Cabinet discussed the Kingdom’s cooperation with the international community to achieve stability and development and the humanitarian and economic role played by Saudi Arabia, particularly with its commitment to the UN’s Sustainable Development Goals, the Saudi Press Agency reported.
The ministers referred to the “Kingdom’s debt pardoning initiative,” which had “exempted least developed countries from a total $ 6 billion debt.”
The Cabinet also expressed the Kingdom’s condemnation of the shooting in Pittsburgh, Pennsylvania, the attack in the town of Jafra in southern Libya, and the two suicide bombings in the capital of Tunisia and the Afghan capital. 
The Cabinet also reiterated the Kingdom’s condemnation of the terrorist massacres, brutal attacks and genocide being committed against the Rohingya in Rakhine State and other minorities in Kachin Shan province and other areas in northern Myanmar, which constitute one of the worst forms of terrorism against Muslim and other minorities. It reaffirmed the Kingdom’s call for urgent action to stop the violence and to offer the Rohingya in Myanmar their rights without segregation or apartheid.
The Cabinet praised Crown Prince Mohammed bin Salman for assuring at the Future Investment Initiative 2018 last week that Saudi Arabia had made huge steps in enhancing and developing its economy during the past three years.
The ministers also commended the status that the Kingdom’s economy has reached, pointing to the growth of non-oil revenues by 48 percent at the end of the third quarter compared to the same period last year, and the growth of government spending by 25 percent at the end of the third quarter, compared to the same period last year.
The Cabinet praised the completion of the specialized judiciary system following the launching of general, specialized and labor courts to develop the judiciary sector.
The Cabinet welcomed the measures taken by the member states of Terrorist Financing Targeting Center, which designated nine individuals linked to the Taliban Movement, including Iranians, in addition to the designation made by Saudi Arabia and Bahrain for four persons who provided sponsorship and financial and material support for Iran’s terrorist sabotage activities.


Four killed in failed terrorist attack on interior ministry building north of Riyadh

Updated 10 min 8 sec ago
0

Four killed in failed terrorist attack on interior ministry building north of Riyadh

DUBAI: Four heavily armed attackers were killed in a failed terrorist attack on an interior ministry building in Zulfi, north of Riyadh.

A spokesperson from the Kingdom’s Presidency of State Security also said that three government security personnel suffered minor injuries during the exchange of fire, Saudi state news agency SPA reported.

“The security authorities in the Presidency managed to thwart the terrorist act targeting the center of investigations ... and dealt with them as required by the situation,” the spokesman was quoted by SPA as saying.

The identities of the four gunmen are still being determined by government authorities, the news agency addd.

Special security personnel were still working on the site to assess and identify the explosive materials that the terrorists had in their possession, the spokesperson said, and the findings would be announced later.

The suspects, who were on board a car, tried to crash through the main entrance of the General Directorate of Investigation’s Center in Riyadh, but were intercepted by security to prevent the vehicle from gainin access into the compund.

Two gunmen died during the initial exchange of fire with the security forces, while one was killed as he attempted to flee. The fourth attacker died as he tried to blow up an explosive belt,  pan-Arab daily Asharq Al-Awsat reported.