Saudi Arabia and IMF Launch Annual AlUla Conference for Emerging Markets in 2025

Saudi Arabia and the International Monetary Fund (IMF) will co-host the inaugural AlUla Conference for Emerging Market Economies on February 16–17, 2025, in AlUla, Saudi Arabia. The announcement was made in a joint statement by Saudi Minister of Finance Mohammed Aljadaan and IMF Managing Director Kristalina Georgieva on November 14, 2024. The conference aims to address the mounting challenges facing emerging market economies, including conflicts, geoeconomic fragmentation, pandemics, and climate change, which threaten global growth and stability.

Context and Background

The decision to establish this annual conference comes as the world confronts deeper and more frequent economic shocks. According to the joint statement, these shocks—ranging from food insecurity to the digital divide—risk undermining hard-won improvements in living standards for emerging markets. Saudi Arabia, as a leading G20 economy and a key player in global energy markets, has increasingly positioned itself as a bridge between developed nations and emerging economies. The AlUla conference builds on the Kingdom’s ongoing efforts to foster international dialogue and economic cooperation under its Vision 2030 reform agenda.

Key Details

The high-level conference will gather finance ministers, central bank governors, policymakers, and leaders from the public and private sectors, international institutions, and academia. The joint statement emphasized that the gathering would provide a unique platform for exchanging views on domestic, regional, and global economic developments. Participants will discuss policies and reforms aimed at fostering inclusive prosperity and building resilience through strong international cooperation. The choice of AlUla, a historic and culturally significant region in northwestern Saudi Arabia, underscores the Kingdom’s commitment to showcasing its heritage and modern development.

Implications and Impact

This initiative signals Saudi Arabia’s growing role as a convener of global economic dialogue. By co-hosting the conference with the IMF, the Kingdom reinforces its commitment to multilateralism and support for emerging markets. The conference is expected to produce actionable insights on strengthening macroeconomic stability, managing geopolitical risks, and leveraging technology for inclusive growth. For emerging economies, the event offers a rare opportunity to directly engage with global financial institutions and shape policy discussions that affect their development trajectories.

Vision 2030 Alignment

The AlUla Conference for Emerging Market Economies aligns directly with Saudi Vision 2030 by promoting economic diversification, international partnerships, and knowledge exchange. The conference supports the Kingdom’s ambition to become a hub for global dialogue and innovation, while also advancing its goals of sustainable development and inclusive prosperity. As Saudi Arabia continues to reform its economy and open to the world, hosting such high-profile events strengthens its position as a responsible global leader committed to addressing shared challenges.

20 Questions

Q1. What is the AlUla Conference for Emerging Market Economies?

A1. It is an annual high-level conference co-organized by the IMF and Saudi Arabia, starting February 16–17, 2025, in AlUla, to discuss challenges and opportunities for emerging markets.

Q2. Who initiated the conference?

A2. The conference was jointly initiated by Saudi Minister of Finance Mohammed Aljadaan and IMF Managing Director Kristalina Georgieva, as announced in a joint statement on November 14, 2024.

Q3. Why was AlUla chosen as the venue?

A3. AlUla was selected for its historical significance and as a symbol of Saudi Arabia’s cultural heritage and modern development, reflecting the Kingdom’s openness and commitment to global engagement.

Q4. Who will attend the conference?

A4. Attendees will include finance ministers, central bank governors, policymakers from emerging markets, and leaders from the public and private sectors, international institutions, and academia.

Q5. What is the main objective of the conference?

A5. The main objective is to exchange views on economic developments and discuss policies and reforms to foster inclusive prosperity and build resilience through international cooperation.

Q6. How does this conference benefit emerging market economies?

A6. It provides a platform for emerging economies to voice concerns, share best practices, and collaborate on solutions to common challenges like fragmentation, climate change, and pandemics.

Q7. Is this a one-time event?

A7. No, it is an annual conference series, with the first edition in 2025 and subsequent events planned in AlUla, Saudi Arabia.

Q8. What role does Saudi Arabia play in the global economy?

A8. Saudi Arabia is a G20 member and a major energy exporter, and it is diversifying its economy through Vision 2030, positioning itself as a key partner for global economic stability.

Q9. How does the conference relate to Vision 2030?

A9. The conference supports Vision 2030 by promoting international partnerships, economic diversification, and knowledge exchange, aligning with the Kingdom’s goals of sustainable development and global leadership.

Q10. Will the media cover the event?

A10. Yes, the conference is expected to attract global media attention, and Saudi official channels like the Saudi Press Agency (SPA) will provide updates.

Q11. What topics will be discussed?

A11. Topics include global economic shocks, geoeconomic fragmentation, climate change, food security, digital divide, and policies for inclusive growth and resilience.

Q12. How does the IMF benefit from this partnership?

A12. The IMF gains a valuable partner in Saudi Arabia to facilitate dialogue with emerging markets and advance its mission of global monetary cooperation and financial stability.

Q13. What is the significance of the joint statement?

A13. The joint statement highlights a shared commitment between Saudi Arabia and the IMF to address pressing global economic challenges through collaborative action and dialogue.

Q14. How does this conference address geoeconomic fragmentation?

A14. By bringing together diverse stakeholders, the conference fosters cooperation and reduces fragmentation, promoting a more unified global economic framework.

Q15. Can private sector leaders participate?

A15. Yes, the conference specifically invites leaders from the private sector, alongside public officials and academics, to ensure broad-based input on economic issues.

Q16. What is the expected outcome of the conference?

A16. The outcome is expected to include policy recommendations, enhanced international cooperation, and actionable strategies to strengthen emerging market economies.

Q17. How does the Kingdom support emerging markets?

A17. Saudi Arabia supports emerging markets through financial aid, investments, and platforms like this conference, leveraging its economic strength to promote global stability.

Q18. What is the format of the conference?

A18. The format includes high-level plenary sessions, panel discussions, and networking opportunities, designed to facilitate in-depth dialogue among participants.

Q19. How can one follow updates about the conference?

A19. Updates will be available through the Saudi Ministry of Finance, the IMF, and official news outlets like the Saudi Press Agency (SPA).

Q20. Why is this conference important for global stability?

A20. The conference addresses critical risks to global growth and stability, offering a collaborative platform for emerging markets to build resilience and ensure inclusive prosperity.

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