Saudi Arabia's Ministry of Finance and IMF conclude AlUla emerging markets conference with new cooperation agreements

Saudi Arabia's Ministry of Finance, working with the International Monetary Fund, closed the two-day AlUla Conference for Emerging Market Economies, convening finance ministers, central bank governors and other policymakers to discuss key emerging market challenges and policy responses. Alongside the policy agenda, the conference featured the signing of several bilateral agreements and memoranda of understanding aimed at strengthening economic and financial cooperation. Sessions focused on monetary and fiscal policy, sovereign debt policy and management, and the role of technology and artificial intelligence in economic development, with participants citing sluggish growth, high financing needs and costs, and rising public debt as major pressures for emerging markets. Announced signings included a Saudi-Morocco memorandum of understanding to deepen financial-sector collaboration, including exchanging expertise on macroeconomic policy development and financial regulation and legislation; a debt restructuring agreement between the Arab Monetary Fund and the Republic of Yemen attended by senior Yemeni and Arab Monetary Fund officials and supported by the Kingdom of Saudi Arabia; and a joint statement between the Saudi Ministry of Finance and the Asian Infrastructure Investment Bank to promote investment in infrastructure projects in Saudi Arabia.