Saudi Ministry of Finance and IMF prepare to launch AlUla conference for emerging market economies
His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, said the conference would be a unique platform for the exchange of knowledge, fostering informed decision-making and advancing policy discussions. It will provide an opportunity to engage on regional and global economic developments and to discuss policies and reforms aimed at promoting prosperity and resilience. This underscores the Kingdom's strong partnership with the IMF, and comes less than a year after the IMF established its regional office in Riyadh, to support the region's economies by providing technical assistance which contribute to achieving sustainable development for those countries.
Minister Aljadaan said the conference will discuss the economic challenges facing emerging markets and developing economies, including sluggish growth, constrained fiscal space, and rising financing needs while public debt is elevated. It will contribute to the provision of effective solutions to deal with these challenges. In addition, he said the Conference would highlight opportunities for emerging markets and developing economies to enhance cooperation and improve their economic growth and resilience.
Her Excellency the Managing Director of the IMF, Dr. Kristalina Georgieva, said "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 joint Conference is a reflection of the deepening partnership between Saudi Arabia and the IMF, where Minister Aljadaan serves as Chair of the International Monetary and Financial Committee (IMFC). This partnership is rooted in a common goal of building vibrant and resilient economies." Dr. Georgieva added.
The Conference will include several key sessions and themes, including monetary and fiscal policies concerning emerging markets and developing economies, the importance of those policies for macroeconomic and financial stability, and innovative solutions to sovereign debt management. It will also address the role of modern technology and artificial intelligence in supporting economic development.
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