AlUla, Saudi Arabia: The second annual Conference for Emerging Market Economies was held in AlUla, Saudi Arabia, on February 8-9, co-organized by the Saudi Ministry of Finance and the International Monetary Fund (IMF). At the conclusion of the conference, H.E. Mohammed Aljadaan, the Saudi Minister of Finance, and Dr. Kristalina Georgieva, the IMF Managing Director, issued the following statement:
"We would like to thank emerging market policymakers, leading global academics, and heads of regional and international financial institutions for coming together once again in AlUla to discuss the key challenges facing Emerging Market Economies, as well as policies to strengthen their resilience and boost growth. This second conference reaffirmed the value of a dedicated global forum focused on the shared challenges, opportunities, and aspirations of emerging market economies.
"Over the past two days, discussions focused on how emerging markets can navigate a global environment marked by persistent uncertainty, geopolitical shifts, evolving trade patterns, and rapid technological change. These transformative trends highlight the urgency of strengthening policy frameworks and institutions to support resilience and leverage opportunities ahead.
"Several key messages stood out. First, sound macroeconomic and financial policies that are supported by strong institutions and effective governance remain the foundation for resilience in a more shock-prone world. The experience across many emerging markets shows that credible policy frameworks and institutional upgrades have helped achieve better inflation outcomes, maintain financial stability, and preserve market access, even amid heightened uncertainty
"Second, having built greater stability, emerging markets now face the challenge of moving to the next phase of reforms: those that deliver higher, more sustained, and more job-rich growth. Unleashing the private sector will be central to this effort, including through deepening financial markets, reducing barriers to entrepreneurship and investment, and harnessing artificial intelligence by investing in digital infrastructure and equipping young people with skills necessary to thrive in the evolving global job market."
"Third, in a world of shifting trade and investment patterns, deeper intra-regional and inter-regional integration offers important opportunities. Boosting trade and strengthening regional cooperation remain critical for emerging markets as they adapt to the changing global economic landscape.
"We are encouraged by the commitment shown by emerging markets to come together, learn from one another, and act decisively in the face of global challenges. We look forward to continuing these discussions and building on this momentum at future editions of the AlUla Conference for Emerging Market Economies."
