By If gone unaddressed, global shocks put at risk emerging global market economies, which in turn will adversely affect a large number of the population across the world. There is an urgent need to adjust to the fast paced changing world.
According to the International Monetary Fund (IMF) and the Kingdom of Saudi Arabia, the globe is confronted with deeper and more frequent shocks including from conflicts, geo-economic fragmentation, pandemics, climate change, food insecurity, and the digital divide.
“If not addressed adequately, these shocks put at risk emerging market economies’ hard-won improvements in living standards. Such setbacks would affect large segments of the world population and put at risk global growth and macro-financial stability,” said Kristalina Georgieva, Managing Director of the IMF and His Excellency Mr. Mohamed Al-Jadaan, Minister of Finance of the Kingdom of Saudi Arabia in a joint statement.
Against this backdrop, the International Monetary Fund and the Kingdom of Saudi Arabia have agreed to organize jointly in Al-Ula, Saudi Arabia, a high-level annual conference on challenges and opportunities facing emerging market economies. The first edition of this series will be held on February 16-17, 2025.
The Al-Ula Conference for Emerging Market Economies will convene a select group of emerging markets’ ministers of finance, central bank governors, and policymakers, as well as public and private sector leaders, international institutions, and academia. It will offer a unique platform to exchange views on domestic, regional and global economic developments and discuss policies and reforms to spur inclusive prosperity and build resilience supported by strong international cooperation.
