During his opening speech, His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, praised the efforts of the IMFand all the members of the IMFC in guiding the IMF during challenging times. He also emphasized the importance of collaboration to ensure global financial stability and strong, inclusive economic growth. Minister Aljadaan welcomed the new "twenty-fifth" IMFC member from the African continent, who is participating for the first time in the history of the committee, and stated that the Kingdom, as chair of the committee, is keen to strengthen the voice of emerging markets and developing economies. in this important committee.

Dr. Kristalina Georgieva, Managing Director of the International Monetary Fund, expressed her gratitude for Saudi Arabia’s ongoing and robust support for the IMF and strong leadership of the IMFC. She said that, amid significant global policy changes, “the IMF's mission to foster macroeconomic and financial stability remains just as essential as it was 80 years ago. Our 191 member countries can rely on the IMF as a trusted advisor."

During the first high-level panel discussion entitled "Breaking from The Low-Growth, High-Debt Path", participants addressed the global economy reaching a turning point, characterized by uncertainty, which is impacting capital flows in advanced economies as well as emerging markets and developing economies. The participants emphasized that global growth prospects remain under historical levels, and high debt levels are limiting investments in infrastructure, social safety nets, and jobs, thus weakening the ability to respond to new economic shocks. In this context, it was noted that disruptive forces such as artificial intelligence, digitalization, and demographic shifts present significant opportunities but also pose major risks to the global economy.

During the second high-level panel discussion, entitled"Strengthening the Global Financial Safety Net", participants addressed the IMF central role in the global financial safety net, as itassists countries facing balance-of-payments challenges by developing effective programs to achieve stability. Participants also exchanged views on potential opportunities to enhance cooperation between the IMF and other regional financial institutions.

The Kingdom's Chairmanship of the IMFC reaffirms its strong commitment to promoting multilateralism and reflects the leading role it plays in supporting regional and global economic growth. The IMFC deliberates on matters concerning the growth and stability of the global economy, seeking to ensure global financial stability. Its members discuss challenges facing the global economy and recommend economic policies to address them. This official meetingis the first in the committee's history to be held in the Kingdom of Saudi Arabia.