Pakistan finance minister leaves for Saudi Arabia to attend AlUla conference on emerging economies

ISLAMABAD: Pakistan Finance Minister Muhammad Aurangzeb has left for Saudi Arabia to attend the AlUla Conference for Emerging Market Economies, the Pakistani finance ministry said on Saturday.
The AlUla Conference for Emerging Market Economies is an annual economic policy conference, organized by Saudi Arabia’s finance ministry and the International Monetary Fund (IMF) regional office in Riyadh.
The conference 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.
Aurangzeb is attending the two-day conference, starting on Sunday, on the invitation of his Saudi counterpart Mohammed Al-Jadaan, in context of policy measures that have led to the stability and positive changes in the Pakistani economy despite the uncertain regional and global environment.
“Muhammad Aurangzeb will participate in a high-level panel discussion on the topic of ‘The Path to Emergent Markets’ during the conference,” the Pakistani finance ministry said. “IMF Managing Director Kristalina Georgieva will host the panel discussion.”
Pakistan is currently navigating a tricky path to economic recovery under a $7 billion International Monetary Fund (IMF) loan program it secured in September last year. The South Asian country has undertaken several reforms and policy measures since averting an imminent default on its external debt in 2023.
The conference will have a total of 9 sessions in which 200 participants and 36 speakers will participate, according to the Pakistani finance ministry.
The forum will discuss ways to build resilience in a changing world, and appropriate economic and financial policies needed for emerging markets and developing economies to address economic challenges.
It comes at a time when the world is grappling with deep and persistent economic shocks, trade tensions between major world powers, geopolitics, and tight financial conditions.
“The conference will provide a unique platform for world leaders to discuss and analyze domestic, regional, and global economic conditions and developments, and to exchange ideas on solutions to global challenges,” the Pakistani finance ministry added.