Saudi Ministry of Finance and IMF Conclude the AlUla Conference for Emerging Markets with Ambitious Vision and Discussion

Conclusion of the AlUla Conference for Emerging Market Economies

On February 26, 2025, the Saudi Ministry of Finance, in collaboration with the International Monetary Fund (IMF), successfully concluded the AlUla Conference for Emerging Market Economies. This prominent event, held over two days, gathered finance ministers, central bank governors, and other key policymakers and economists from around the globe. The conference served as an essential platform for dialogue and collaboration aimed at addressing the economic challenges facing emerging markets amidst the structural transformations of the global economy.

Throughout the conference, discussions revolved around a variety of critical topics, focusing on monetary and fiscal policies, public debt management, and the significant role of technology and artificial intelligence in advancing economic development. Speakers emphasized the pressing challenges that emerging market economies face, including sluggish growth, high financing needs, escalating costs, and increasing public debt. A central theme highlighted was the necessity for international collaboration in achieving sustainable economic and financial stability.

The insightful discussions provided valuable perspectives on innovative solutions that can enhance financial stability and foster development within emerging markets. The conference also spotlighted positive experiences from nations that successfully navigated economic challenges through structural reforms, investments in technology, and strengthened partnerships with international financial institutions.

Several key bilateral agreements and memorandums of understanding, aimed at enhancing economic and financial cooperation, were signed during the conference. For instance, Saudi Finance Minister Mohammed Aljadaan and Moroccan Minister of Economy and Finance Nadia Fettah signed a memorandum of understanding to bolster cooperation in the financial sector. This agreement aims to facilitate the exchange of expertise in developing macroeconomic policies, financial regulations, and legislation, contributing to both countries' financial stability and sustainable development.

Additionally, a debt restructuring agreement was signed between the Arab Monetary Fund (AMF) and the Republic of Yemen, featuring signatories Salem bin Breik, the Yemeni Finance Minister, and Fahad Alturki, Director General and Chairman of the Board of Executive Directors of the AMF. This agreement, supported by the Kingdom of Saudi Arabia, is designed to promote economic stability in Yemen and enhance the country's capacity to address current financial challenges.

In efforts to encourage investments in infrastructure projects, the Saudi Ministry of Finance and the Asian Infrastructure Investment Bank (AIIB) also signed a joint declaration aimed at promoting investments in this sector within the Kingdom. This declaration underscores Saudi Arabia's commitment to advancing its infrastructure development and strengthening partnerships with international financial institutions.

The AlUla Conference for Emerging Market Economies has established itself as a leading global platform aimed at fostering dialogue and cooperation among countries to tackle shared economic challenges. The hosting of this conference reaffirms the commitment of both Saudi Arabia and the IMF to support emerging markets and promote financial and economic stability on both regional and international levels.

For more information about the conference and its outcomes, visit official website.