Finance Minister Mohammed Aljadaan Addresses Global Economic Challenges At G20 FMCBG Meeting

Saudi Arabia's Finance Minister, Mohammed Aljadaan, and the Governor of the Saudi Central Bank, Ayman Alsayari, recently wrapped up their participation in the fourth G20 Finance Ministers and Central Bank Governors Meeting. This event took place on October 15 and 16, 2025, in Washington, DC, alongside the World Bank Group-International Monetary Fund Annual Meetings.

Aljadaan highlighted that the global economy is grappling with numerous challenges this year. Some of these issues might persist into 2026 due to ongoing major shifts affecting policies. He stressed that withdrawing from the multilateral trading system is not a solution. Instead, collective efforts are needed to enhance it for building trust and encouraging long-term investments.

The minister emphasized fiscal discipline and public debt sustainability as crucial for macroeconomic stability. This requires improved transparency, sound financial governance, and efficient spending. Aljadaan also pointed out that technological advancements like artificial intelligence demand proactive regulatory frameworks to balance opportunities with risk management.

He urged international financial institutions to offer clear guidance to help countries align their national policies with global financial stability goals. This guidance is essential for maintaining a stable economic environment amid rapid technological changes.

During discussions on supporting Africa's growth, Aljadaan noted the continent's increasing significance for global development. He called for practical solutions focusing on reducing capital costs, stimulating private investment, and ensuring financial sustainability. These measures are vital for fostering sustainable progress in Africa.

Aljadaan affirmed that multilateral institutions must support structural reforms in Africa to boost productivity and create conditions favorable for private sector-led growth. Saudi Arabia has a longstanding partnership with Africa, financing projects in infrastructure, energy, and health across more than 40 countries.

The Role of G20

The minister concluded by highlighting the G20's critical role in advancing global financial reform agendas. This includes strengthening debt resolution frameworks and promoting public-private cooperation to build a resilient, inclusive, and sustainable global financial system.

Aljadaan emphasized that achieving these goals requires collaboration among nations to address shared challenges effectively. The G20 provides a platform for such cooperation, enabling countries to work together towards common objectives.

With inputs from SPA