Al Ula Economic Conference Highlights Resilience and Opportunities for Emerging Markets

KSA, 25 February, 2025 :  The inaugural Al Ula Economic Conference for Emerging Market Economies took place in Saudi Arabia from February 16-17, co-hosted by the Saudi Finance Ministry and the International Monetary Fund (IMF). At the conclusion of the two-day event, Saudi Finance Minister Mohammed Aljadaan and IMF Managing Director Kristalina Georgieva issued a joint statement.

The conference brought together policymakers, academics, and financial institutions to discuss the challenges and opportunities facing emerging markets (EMs). Key highlights from the conference included the importance of unity and collaboration to maintain resilience and growth in the face of global transformations, such as shifts in technology, trade, and climate.

The statement emphasized three main points:

1. The need for resilience through sound macroeconomic and financial policies amid a rapidly changing global landscape.
2. The potential of digitalization and AI to strengthen EM economies, requiring investments in infrastructure and human capital, alongside regional integration.
3. The importance of strong domestic reforms and international support to prevent divergence and ensure all countries can benefit from these transformations.

The co-hosts expressed pride in the success of the conference, which focused solely on the future of emerging markets, and announced plans for next year’s event.