ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb is attending a two-day Emerging Market Economies Conference in Saudi Arabia’s AlUla city, the Finance Division said on Sunday, to take part in discussions around sustainable economic growth amid global uncertainties.
The two-day conference is being held from Feb. 16-17 in collaboration with the International Monetary Fund (IMF) and the Kingdom’s Ministry of Finance.
The nine-session conference would be attended by 200 participants and 36 speakers from 48 countries. The event will bring together emerging market finance ministers, central bank governors, policymakers, public and private sector leaders, international institutions and academics.
“During the conference, Senator Aurangzeb will take part in a high-level panel discussion on ‘Navigating the Path for Resilient Emerging Markets’, moderated by IMF Managing Director Kristalina Georgieva, alongside finance ministers from Egypt, Brazil, and Turkiye,” the Finance Division said.
The statement said that the conference is set to become an annual platform for emerging markets and developing economies to help them shape the global economic discourse, enhance policy coordination and strengthen international cooperation for sustainable economic stability.
Aurangzeb is attending the conference at the invitation of his Saudi counterpart Mohammed Al-Jadaan. The two ministers met on Saturday, stressing the importance of unlocking the full potential of Pakistan and Saudi Arabia’s economic relationship.
Their discussions highlighted opportunities for enhancing bilateral trade, investments and financial collaboration, state broadcaster Radio Pakistan reported.
Pakistan is navigating a fragile economic recovery under a $7 billion IMF loan program secured in September 2024, after implementing austerity measures and policy reforms to avert a sovereign default in 2023.
To facilitate Pakistan’s economic recovery, Saudi Arabia signed 34 memorandums of understanding (MoUs) worth $2.8 billion last October to boost private sector investment in key areas, including energy, infrastructure and technology.
The global conference takes place at a time when the world economy is facing persistent shocks, trade tensions between major world powers, geopolitical instability and tight financial conditions.
