IMF pulls out of Saudi investor summit as more details of journalist’s disappearance emerge
International Monetary Fund managing director Christine Lagarde has become the latest global figure to withdraw from a high-profile Saudi investor conference next week following the disappearance of journalist Jamal Khashoggi.
The chief executive of French bank Societe Generale, Frederic Oudea, also dropped out on Wednesday.
But SoftBank, whose $93bn Vision Fund was half-funded by Saudi Arabia's sovereign wealth fund, said it was “anxiously monitoring” events and has not pulled out.
Read more: Two city chiefs withdraw from Saudi conference over journalist's death
Businesses have been dropping out of the Future Investment Initiative at pace over the past few days as more details emerge surrounding the disappearance of journalist Jamal Khashoggi.
Lagarde had initially told a news conference on Saturday she was “horrified” by reports regarding Khashoggi's disappearance but did not intend to change her travel plans.
An IMF spokesperson said on Wednesday: “The managing director's previously scheduled trip to the Middle East region is being deferred.”
The IMF did not give a specific reason but Lagarde is the latest in a long line of speakers and attendees to withdraw from the three-day event as diplomatic tensions mount around Khashoggi's disappearance.
The US resident and critic of the Saudi government has not been seen since entering the Saudi consulate in Istanbul on 2 October.
Turkish officials have searched the consulate twice and believe Khashoggi was killed and dismembered inside.
US President Donald Trump said Saudi Crown Prince Mohammad Bin Salman denied having any knowledge of what happened to the Washington Post contributor.
Trump himself said it could have been “rogue killers” and cautioned against rushing to blame Saudi Arabia.
Last night London Stock Exchange chief executive David Schwimmer and Catherine McGuinness, the City of London Corporation's policy chair joined the list influential business figures to pull out of the Future Investment Initiative in Riyadh.
Read more: HSBC, Credit Suisse and Standard Chartered join boycott of Saudi conference
They joined execs from Google, HSBC, Credit Suisse and Mastercard who will also no longer be attending.
Other high profile withdrawals have included JP Morgan boss Jamie Dimon, Ford chairman Bill Ford and Uber chief executive Dara Khosrowshahi.
London-based Deloitte, EY and PwC are all still listed as “knowledge partners” of the three-day conference and failed to respond when asked if this position had changed.