AlUla: The AlUla Conference for Emerging Market Economies, co-organized by the Ministry of Finance and the International Monetary Fund (IMF), is set to commence on February 16-17, 2025, in AlUla. The annual high-level event serves as a global platform for dialogue and cooperation on the economic challenges faced by emerging markets, considering the structural transformations occurring in the global economy. It aims to bring together decision-makers, economists, and experts from various parts of the world.
According to Saudi Press Agency, Minister of Finance Mohammed Al-Jadaan highlighted that the conference would be a unique platform for exchanging knowledge, fostering informed decision-making, and advancing policy discussions. It will provide an opportunity to engage in discussions on regional and global economic developments, as well as policies and reforms aimed at promoting prosperity and resilience. This initiative reflects the Kingdom's strong partnership with the IMF, which follows the establishment of the IMF's regional office in Riyadh less than a year ago. This office aims to support regional economies by providing technical assistance to achieve sustainable development.
Al-Jadaan emphasized that the conference would address economic challenges faced by emerging markets and developing economies, such as sluggish growth, constrained fiscal space, and rising financing needs amid elevated public debt. The conference aims to contribute effective solutions to these challenges and highlight opportunities for enhancing cooperation and improving economic growth and resilience in these regions.
IMF Managing Director Dr. Kristalina Georgieva remarked that the inaugural AlUla Conference for Emerging Market Economies comes at a crucial time of significant economic transformations. The conference will serve as an essential platform to unite policymakers, the private sector, and key stakeholders to discuss how emerging market countries can capitalize on economic transformations, enhance competitiveness, and achieve strong private sector-led growth.
Georgieva further stated that the joint conference reflects the deepening partnership between Saudi Arabia and the IMF, with Minister Al-Jadaan serving as Chair of the International Monetary and Financial Committee (IMFC). This partnership is built on a shared goal of fostering vibrant and resilient economies.
The conference will feature several key sessions and themes, including monetary and fiscal policies concerning emerging markets, the significance of these policies for macroeconomic and financial stability, and innovative solutions to sovereign debt management. Additionally, it will explore the role of modern technology and artificial intelligence in supporting economic development.