Emerging Market Economies Conclude As AlUla Conference 2026 Reaches Final Day

The second edition of the AlUla Conference on Emerging Market Economies ended its final day with senior policymakers and international institutions calling for stronger cooperation, clear reform strategies, and practical policies to help emerging economies manage repeated shocks and support sustainable growth.

In closing remarks, Minister of Finance of Saudi Arabia Mohammed Aljadaan and Managing Director of the IMF Kristalina Georgieva stressed that continued open dialogue and stronger multilateral cooperation are essential. They underlined the need to convert the discussions in AlUla into real policy actions that support emerging market economies and ensure their interests are better reflected in global economic forums.

The AlUla Conference on Emerging Market Economies is hosted by AlUla Governorate and organized by the Saudi Ministry of Finance in partnership with the IMF. The gathering brings together ministers of finance, central bank governors, senior representatives of international financial institutions, experts, and specialists to exchange views on policy challenges facing emerging markets and to examine practical responses.

Across the two days, participants described the conference as a high-level international platform focused on deepening international cooperation, aligning economic policies, and shaping joint solutions that support more inclusive and sustainable growth. Discussions also addressed how stronger coordination can reinforce overall global economic stability, especially as emerging markets face repeated shocks and tighter fiscal conditions.

One of the main sessions on the final day was a research-based panel titled "Fiscal Policy in a Shock-Prone World." Contributions came from Minister of Finance of Saudi Arabia Mohammed Aljadaan; Minister of Finance of Pakistan Muhammad Aurangzeb; Minister of Finance and Coordinating Minister of the Economy of Nigeria Wale Edun; and Professor Antonio Fatas of INSEAD, with moderation by World Bank Group Chief Economist Indermit Gill.

The panellists discussed how fiscal policy can respond to rising global uncertainty and frequent economic shocks. They examined ways to balance immediate spending needs with the rebuilding of fiscal buffers, and assessed how modern fiscal frameworks can support resilience and sustainability in emerging market economies while protecting long-term growth prospects.

AlUla Conference on Emerging Market Economies highlights Saudi Vision 2030 reforms

During the fiscal policy session, Minister Mohammed Aljadaan explained that successful economic reform programmes start with a clear vision and a measurable plan. Minister Aljadaan underlined that reforms must earn citizens’ trust, give clarity about the future, and be implemented with both speed and high quality to maintain momentum and credibility.

Minister Aljadaan highlighted that effective governance, transparency, and continuous performance monitoring are essential to support reform delivery. Minister Aljadaan also pointed to the importance of a data-driven approach and stronger institutional capacity, stating that the quality of institutions, policies, and technology is a decisive factor for long-term economic resilience and for achieving productive, sustainable growth.

Minister Aljadaan referred to Saudi Arabia’s experience with fiscal reforms under Vision 2030. The Kingdom has moved away from dependence on oil price cycles and adopted a comprehensive fiscal framework that separates government spending decisions from energy market volatility, helping to ensure stable financing for long-term development goals.

The minister added that efforts to grow non-oil revenue, raise spending efficiency, and use digital tools have supported fiscal stability. These steps have helped improve sustainability in both the short and long term, while also giving policymakers more room to respond to external shocks without sudden changes in spending plans.

AlUla Conference on Emerging Market Economies debates private sector–led growth

A separate panel, titled "Private Sector–Led Growth in Emerging Market Economies: The Role of the State," examined how governments can create conditions that encourage private investment while dealing with limited fiscal space and increasing public debt. The session featured President of the Islamic Development Bank Group Dr. Mohammed Aljasser; Minister of Finance and Budget of Senegal Cheikh Diba; and World Bank Group Managing Director for Operations Anna Bjerde.

The discussion, moderated by Director of the Middle East and Central Asia Department at the IMF Jihad Azour, focused on policies that can empower the private sector and support productivity gains. Panellists assessed how industrial strategies, regulatory frameworks, and rapid technological change, including artificial intelligence, are reshaping investment decisions and growth models in emerging economies.

AlUla Conference on Emerging Market Economies outlines pathway toward resilience

The conference concluded with a high-level session titled "A Pathway Toward Emerging Market Resilience and Economic Transformation." Gillian Tett, a Member of the Editorial Board at the Financial Times, moderated the discussion. Speakers included IMF Managing Director Kristalina Georgieva; Minister of Finance of Qatar Ali bin Ahmed Al-Kuwari; Minister of Treasury and Finance of Türkiye Mehmet Şimşek; and Minister of Economy and Finance of Ecuador Sariha Moya.

This final session examined how macroeconomic and fiscal policies, alongside structural reforms, can strengthen resilience to recurring global shocks. Panellists discussed options for supporting economic transformation in emerging markets at a time of deep shifts in global trade, finance, and technology, stressing the importance of credible policy frameworks and long-term planning.

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Participants at the AlUla Conference on Emerging Market Economies closed the second edition by underlining that stronger policy frameworks, institutional quality, and cooperation are central to managing shocks and supporting development. Discussions in AlUla highlighted Saudi Arabia’s fiscal reform experience and broader strategies that emerging economies can consider as they seek resilience, stability, and sustainable growth.

With inputs from SPA