IMF Conference
February 16-17, 2025
The AlUla Conference for Emerging Market Economies is an annual economic policy conference, held in AlUla, Saudi Arabia, organized by the Ministry of Finance of Saudi Arabia and the IMF Regional Office in Riyadh. This year's conference convened 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 offered a unique platform to exchange views on domestic, regional, and global economic developments and discussed policies and reforms to spur inclusive prosperity and build resilience supported by strong international cooperation.
Rewatch the events: Day 1 and Day 2
09:30-09:40 - Opening remarks by H.E. Mohammed Al-Jadaan (Minister of Finance, Saudi Arabia) and Kristalina Georgieva (Managing Director, IMF)
09:40-10:00 - Keynote Lecture: Emerging Markets Amid Structural Shifts in the World Economy
The keynote address will discuss global trends and their potential implications for emerging markets and developing economies (EMDEs), as well as the role of international cooperation.
10:00-10:50 - Emerging Markets: Policy Challenges Amid Structural Shifts in the World Economy
The panel will delve into EMDEs’ policy challenges in the context of the rising uncertainty and the changing global economic landscape. Specifically, it will cover the implications for EMDEs of (i) more frequent external shocks; (ii) elevated uncertainty; and (iii) structural challenges in the context of high debt, weak growth, energy transitions, and new technologies.
Panelists:
10:50-11:10 - Coffee break
11:10-12:10 - High Debt-Low Fiscal Space—Fiscal Consolidation and Multilateral Solutions to Debt Restructuring
Maintaining or restoring debt sustainability in EMDEs is a challenging task in the context of elevated debt, higher interest rate and weak potential growth, as well as significant spending pressures (e.g., related to sustainable development goals, defense, energy transitions, and economic diversification). The panelists will discuss the pace of the ongoing pivot towards fiscal consolidation and ways to garner support for politically difficult reforms. Potential debt restructuring mechanisms from both creditor and debtor perspectives will also be highlighted.
Panelists:
12:10-13:00 - Lunch
13:00-14:00 - Monetary Policy and Capital Flows Amid Elevated Uncertainty
The session will discuss the path of future monetary policy in EMDEs, considering the spillovers from monetary policy in advanced economies and potential swings in global market sentiment, as well as the uncertainty around the implications for inflation, the neutral rate, and capital flows of the changing economic landscape.
Discussants:
14:00-15:00 - Resilience of the Financial System in Emerging Markets
The panel will focus on the implications of the changing global landscape for financial stability in emerging markets, as well as the policy priorities.
Panelists:
19:30-21:30 - Dinner hosted by the Ministry of Finance of Saudi Arabia
09:00-10:00 - Navigating Trade Tensions and Uncertainties
Against the backdrop of mounting risks and uncertainty, the session will discuss (i) how geoeconomic fragmentation and geopolitical risks are affecting trade and investment globally and in EMDEs; (ii) how EMDEs can adapt to these developments and mitigate risks; (iii) what policies to enhance trade and investment flows; and (iv) what changes to the current global trade system to respond to EMDEs’ needs.
Panelists:
10:00-11:00 - Productivity in EMDEs: Challenges and Opportunities
Compared with the pre-pandemic period, the medium-term growth outlook has worsened significantly, including in EMDEs. The projected slowdown jeopardizes income convergence and could also lead to widening income inequality within countries. Against this backdrop, the session will take stock of EMDEs’ growth outlook, including the main headwinds, and discuss the potential challenges and opportunities from shifts in the economic landscape (e.g., AI).
Discussants:
11:00-11:20 - Coffee break
11:20-12:20 - Closing Panel: A Path for Emerging Market Resilience
The concluding panel will focus on (i) how EMDEs should deal with shocks in the short term, taking into consideration the persistence of some global shocks; (ii) identifying the main trade-offs for fiscal and monetary policymakers to build resilience, maintain stability and spur growth (“rise strong”); and (iii) how the underlying concerns behind “anti-globalization” pressures can be addressed to revitalize global economic integration.
Panelists:
12:20-12:40 - Closing remarks by H.E. Mohammed Al-Jadaan (Minister of Finance, Saudi Arabia) and Kristalina Georgieva (Managing Director, IMF)
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