ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb highlighted the country’s improving debt outlook and efforts to restore economic stability at the AlUla Conference for Emerging Market Economies on Monday, calling for enhanced global coordination to address sovereign debt vulnerabilities.
The second edition of the annual AlUla conference was launched by the Saudi Arabia’s Ministry of Finance and the International Monetary Fund (IMF) on Sunday. The conference brings together economic decision-makers, finance ministers, central bank governors, leaders of international financial institutions and a select group of experts and specialists from around the world.
This year’s conference highlights the rapid transformations in the global economy and challenges and the opportunities they present for emerging market economies, particularly in international trade, monetary and financial systems.
Speaking at a roundtable titled: ‘Addressing Sovereign Debt Vulnerabilities,’ Aurangzeb noted that global public debt remains at historic highs, exerting pressure on emerging and developing economies through higher debt servicing costs, tighter financing conditions and constrained fiscal space, the Finance Division said.
