At a high-level roundtable during the AlUla Conference for Emerging Market Economies, the International Monetary Fund (IMF) and Saudi Arabia’s Finance Ministry committed to aiding the recovery of conflict-affected Middle Eastern nations, with a particular focus on Syria. The event, held on February 16-17, 2025, convened regional finance ministers, Syria’s foreign minister, World Bank representatives, and leaders from international financial institutions and the Arab Coordination Group.
This important meeting brought together representatives from the Middle East and key economic and development partners to discuss how we can work together to support recovery in the Middle East’s conflict-affected economies, with a focus on Syria.
Joint statement by Managing Director of the IMF Kristalina Georgieva and Saudi Finance Minister Mohammed Al-Jadaan
IMF Managing Director Kristalina Georgieva and Saudi Finance Minister Mohammed Al-Jadaan issued a joint statement emphasising the urgency of addressing humanitarian needs and initiating economic reconstruction in war-torn countries. They outlined three primary objectives:
- Continuous assessment: Conduct ongoing evaluations of each nation’s specific challenges, including humanitarian and reconstruction requirements, to identify institutional priorities and financial gaps.
- Capacity development: Enhance initiatives by the IMF and World Bank to strengthen or establish essential fiscal, monetary, and banking institutions.
- Financial mobilisation: Secure coordinated international financial support for comprehensive reform programs encompassing reconstruction and humanitarian aid.
The participants agreed to form an informal coordination group to oversee these efforts, with further discussions scheduled for the IMF/World Bank Spring Meetings in Washington, D.C., from April 25-27, 2025.
