ALULA: 海角直播鈥檚 Finance Ministry and the聽International Monetary Fund co-hosted on Sunday a high-level roundtable aimed at addressing economic recovery in conflict-affected countries in the Middle East, with a particular focus on the Syrian Arab Republic.聽
The meeting, held on the sidelines of the inaugural聽AlUla Conference for Emerging Market Economies,聽brought together聽regional finance ministers, the聽Syrian foreign minister, the聽managing director of operations at the World Bank Group, and representatives from聽international financial institutions and the Arab Coordination Group.
Following the discussion,聽IMF Managing Director Kristalina Georgieva聽and聽Saudi Finance Minister Mohammed Al-Jadaan聽issued a joint statement emphasizing the significance of international cooperation in rebuilding economies devastated by conflict, the Saudi Press Agency reported.
They stressed the聽urgency of addressing humanitarian needs and facilitating a durable recovery, underscoring the commitment of participating nations and institutions to pool their expertise and resources to support affected populations, SPA added.
Participants highlighted the聽wider regional consequences of prolonged instability, reinforcing the need for coordinated recovery efforts. Syria remained a focal point of the discussions.
As part of a collective strategy, attendees identified聽three priorities聽for supporting conflict-affected economies.
First, they agreed on the necessity of聽a continuous diagnostic process聽to assess each country鈥檚 unique challenges, humanitarian requirements, and reconstruction needs. This would include evaluating gaps in聽institutional frameworks, economic policies, and financial resources.
Second, they underscored the importance of聽enhanced capacity development, with an emphasis on scaling up聽IMF and World Bank initiatives聽to strengthen key institutions, particularly in聽fiscal, monetary, and banking sectors.
Lastly, they emphasized the聽mobilization of financial assistance聽from the global community, stressing the importance of securing coordinated support from聽international and regional development partners聽for reconstruction and humanitarian programs.
The聽IMF, World Bank, and Arab Coordination Group聽reaffirmed their commitment to working together within their respective mandates to facilitate economic recovery efforts in the region.
To enhance these efforts, they agreed to establish聽an informal coordination group聽that will oversee ongoing initiatives. Further discussions are scheduled to take place at the upcoming聽IMF/World Bank Spring Meetings, set to be held in聽Washington, from April 25-27.
The meeting saw participation from聽regional governments, international financial institutions, and high-level Syrian representatives, marking a significant step toward a聽collaborative and sustained approach to economic recovery in the Middle East.
