Finance Ministry And IMF To Host AlUla Conference Addressing Economic Challenges For Emerging Markets

The AlUla Conference for Emerging Market Economies, organised by the Ministry of Finance and the International Monetary Fund (IMF), is set to take place on February 16-17, 2025, in AlUla. This annual event serves as a global platform to foster dialogue and cooperation on economic challenges facing emerging markets amid global economic changes. It will gather decision-makers, economists, and experts worldwide.

Minister of Finance Mohammed Al-Jadaan emphasised that the conference will be a unique venue for knowledge exchange, informed decision-making, and policy discussions. It aims to engage participants on regional and global economic developments while discussing policies and reforms to promote prosperity and resilience. This event highlights Saudi Arabia's strong partnership with the IMF.

The conference will address significant economic challenges confronting emerging markets and developing economies. Topics include sluggish growth, limited fiscal space, rising financing needs, and elevated public debt levels. The discussions aim to provide effective solutions to these issues. Additionally, opportunities for enhancing cooperation among these economies will be explored.

IMF Managing Director Dr. Kristalina Georgieva stated, "The inaugural AlUla Conference for Emerging Market Economies comes at a time of significant economic transformations. The conference provides an important platform to bring together policymakers, the private sector, and key stakeholders to discuss ways in which emerging market countries can seize the opportunities of these economic transformations, lift up their competitiveness, and enjoy strong private sector-led growth."

The collaboration between Saudi Arabia and the IMF is underscored by this joint conference. Minister Al-Jadaan serves as Chair of the International Monetary and Financial Committee (IMFC), reflecting a shared goal of building vibrant and resilient economies. The partnership has deepened following the establishment of the IMF's regional office in Riyadh less than a year ago.

The conference will feature sessions on monetary and fiscal policies relevant to emerging markets. These discussions are crucial for ensuring macroeconomic stability and financial security. Innovative solutions for managing sovereign debt will also be explored alongside the role of modern technology and artificial intelligence in supporting economic development.

This high-level event underscores Saudi Arabia's commitment to addressing global economic challenges through collaboration with international partners like the IMF. By bringing together experts from various fields, it aims to foster informed discussions that contribute to sustainable development in emerging market economies.

With inputs from SPA