UAE Minister Discusses Economic Strategies At AlUla Conference For Emerging Market Economies

Mohamed bin Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs, attended the AlUla Conference for Emerging Market Economies. This event took place on February 16-17 in Al Ula, Saudi Arabia. Organised by Saudi Arabia's Ministry of Finance and the IMF's Regional Office in Riyadh, it gathered policymakers and economic experts to address financial challenges globally and regionally.

The conference featured a high-level roundtable titled "Working Together to Support the Recovery of Middle Eastern Economies Post-Conflict." Al Hussaini participated alongside representatives from the GCC, G7 nations, IMF, World Bank, European Commission, and Arab Coordination Group. Discussions focused on challenges faced by conflict-affected economies and strategies for fostering cooperation to support recovery efforts.

Throughout the event, several sessions addressed significant economic challenges facing emerging markets. One panel discussion explored "Emerging Markets Amid Structural Shifts in the World Economy," examining how policymakers can navigate global economic changes. Another session titled "High Debt-Low Fiscal Space—Fiscal Consolidation and Multilateral Solutions to Debt Restructuring" focused on sustaining public finances amid debt crises.

The session "Monetary Policy and Capital Flows Amid Elevated Uncertainty" delved into how global monetary changes affect investment and capital flows in emerging markets. Additionally, a session on "Productivity in EMDEs: Challenges and Opportunities" discussed ways to boost productivity for sustainable growth. These discussions aimed at identifying solutions for pressing economic issues.

"Navigating Trade Tensions and Uncertainties" was another key session that examined risks posed by global trade disputes. It highlighted their impact on supply chains and economic growth. The closing session titled "A Path for Emerging Market Resilience" explored strategies to enhance financial stability and create robust financial systems capable of enduring crises.

Al Hussaini's participation underscores the UAE's commitment to engaging in international economic dialogues. It also reflects its dedication to fostering strategic partnerships that contribute to financial stability both regionally and globally. The UAE aims to play an active role in shaping policies that support sustainable development across emerging economies.

With inputs from WAM