AlUla Conference Joint Statement By Saudi Finance Minister And IMF Managing Director Outlines Resilience And Reforms For Emerging Market Economies

The second AlUla Conference for Emerging Market Economies ended with a joint statement calling for stronger policy frameworks, deeper cooperation, and renewed reform efforts across emerging markets to support growth, protect stability, and respond to global economic uncertainty, geopolitical tensions, changing trade flows, and fast technological shifts, including the spread of artificial intelligence tools.

Minister of Finance Mohammed Aljadaan and International Monetary Fund Managing Director Kristalina Georgieva issued the statement after the meetings. They explained that discussions among policymakers, financial institution leaders, and academics highlighted three central messages for emerging market economies, focused on macroeconomic stability, reform for sustainable growth, and regional integration as trade and investment patterns change.

The first key message stressed that sound macroeconomic and financial policies remain essential in a world exposed to frequent shocks. The statement noted that strong institutions and effective governance support credible policy frameworks. Experiences in many emerging markets showed that such frameworks help control inflation, protect financial stability, and keep access to markets, even when uncertainty becomes more severe.

The second message stated that many emerging markets had already restored greater stability and now needed to move into a new reform phase. This next stage aimed to deliver faster, more durable, and more employment-rich growth. The statement highlighted the importance of unlocking private-sector potential by deepening financial markets and cutting obstacles to entrepreneurship and investment.

The joint statement also underlined the role of technology, particularly artificial intelligence, in supporting that growth. It pointed to the need for investment in digital infrastructure and skills. These steps could help young people in emerging markets benefit from changing global labour markets and adjust to new forms of work driven by technological change.

The third main message focused on regional and cross-regional ties. With trade and investment flows shifting, the statement described deeper intra-regional and inter-regional integration as a major opportunity. Stronger trade links and regional cooperation were seen as important as emerging markets adjust to an evolving international economic environment and seek new engines for growth.

The conference took place in AlUla on 8–9 February and was co-organized by the Saudi Ministry of Finance and the International Monetary Fund. Participants included policymakers from emerging markets, senior figures from regional and international financial institutions, and leading academics, who met to discuss shared challenges and policy responses for emerging market economies.

Over two days, sessions in AlUla examined how emerging markets could navigate persistent global uncertainty, geopolitical changes, shifting trade patterns, and rapid technological advancement. The statement said these trends increased the urgency of stronger institutions and policy frameworks, so countries could manage risks, support growth, and take advantage of new economic opportunities while maintaining stability.

The statement said the conference reaffirmed the usefulness of a dedicated global forum focused on the common challenges, opportunities, and ambitions of emerging market economies. It welcomed the commitment by these economies to cooperate, learn from each other, and act decisively on global challenges, and noted that discussions would continue at future editions of the AlUla Conference for Emerging Market Economies.

With inputs from SPA