The second edition of the 2026 AlUla Conference on Emerging Market Economies began in AlUla, Saudi Arabia, bringing together finance ministers, central bank governors, leaders from international financial institutions, and economic experts from around the world. The event is hosted by the AlUla Governorate and organized by the Saudi Ministry of Finance in partnership with the International Monetary Fund (IMF).
Opening remarks were delivered by Mohammed Aljadaan, Saudi Arabia’s Minister of Finance, and Kristalina Georgieva, Managing Director of the IMF. In his address, Aljadaan highlighted the significance of emerging market economies in supporting global growth. He stated that it is important to enhance cooperation to develop policies that keep pace with changes in international trade and finance systems.
Aljadaan also discussed debt sustainability as a major challenge for emerging and developing economies. He noted rising public debt levels and increased borrowing costs have limited fiscal space for development priorities. “He emphasized the importance of strengthening international coordination and improving debt restructuring frameworks, reviewing the G20’s efforts, including the Debt Service Suspension Initiative and the Common Framework, and stressed that accelerating implementation, enhancing transparency, and strengthening creditor coordination are essential elements to ensure more effective debt solutions that support growth and financial stability.”
Georgieva reflected on last year’s conference recognition of emerging markets’ growing role amid global transformations. She said: “She emphasized the importance of providing an effective space for dialogue in a world experiencing growing fragmentation and uncertainty, explaining that sound economic policies, together with strong institutions capable of committing to reforms even under the most challenging conditions, form the foundation for enabling economies to serve their people and respond flexibly to evolving challenges.” She also pointed out IMF research showing progress in policy frameworks among emerging markets—such as greater independence for central banks—and outlined priorities including private sector-led growth and deeper regional integration.
A keynote session featured Lan Fo’An, China’s Minister of Finance; Andrew Bailey, Governor of the Bank of England; who discussed rapid shifts in global monetary systems linked to geopolitical changes, technological innovation, demographic trends, and their effects on both advanced and emerging economies.
Another session focused on “Resetting Global Trade,” moderated by Pierre-Olivier Gourinchas from IMF Research. Participants included Faisal Alibrahim (Saudi Arabia’s Minister of Economy), Federico Sturzenegger (Argentina’s Minister for Deregulation), Ayub Tekalign (Governor of Ethiopia’s National Bank), and Harvard professor Pol Antras. The discussion covered current trade tensions affecting emerging markets as well as risks tied to changing supply chains.
Mohammed Aljasser, President of Islamic Development Bank Group (IDB), announced the launch of IDB’s Concessional Finance Fund during the conference. He highlighted Saudi Arabia’s commitment as host country: “He noted that the launch in AlUla goes beyond the establishment of the fund itself, sending a message of hope for a fairer world.”
Panel discussions included topics such as implications of global uncertainty on monetary systems—featuring Ayman Al-Sayyari (Saudi Central Bank), Pablo Hernández de Cos (Bank for International Settlements), Jameel Ahmed (State Bank of Pakistan)—and were moderated by Tobias Adrian from IMF.
A final research session addressed how structural shifts affect monetary policy in emerging markets. Panelists included Adam Glapinski (Poland’s National Bank), Hassan Abdullah (Central Bank of Egypt), Martin Galstyan (Central Bank Armenia), Kristin Forbes (MIT Sloan School). Alejandro Werner moderated.
On the sidelines Kristalina Georgieva signed a Memorandum of Understanding with Fahad Alturki from Arab Monetary Fund (@armonetaryfund) aimed at strengthening mutual cooperation.
The conference theme was “Policies Amid a Reset of International Trade and Financial Systems,” focusing on enhancing international dialogue among policymakers to support resilience in emerging market economies.
