His Excellency the Saudi Minister of Finance, Mr. Mohammed Aljadaan, participated in the second Finance Ministers and Central Bank Governors Meeting under the U.S. G20 Presidency, held in Asheville, North Carolina, from August 31 to September 1, 2026. The meeting brought together finance ministers and central bank governors from G20 member nations, representatives of invited countries, and heads of international financial institutions.
During the session entitled “Current Economic Developments," Minister Aljadaan emphasized that the global economy has demonstrated resilience but has also become more vulnerable. He noted that recent shocks have confirmed that securing alternative production, ensuring the availability of inventories, and maintaining infrastructure with spare capacity constitute the first line of economic defense against shocks.
Minister Aljadaan emphasized during the session entitled “Growth" the importance of strengthening the capacity of economies to achieve strong and sustainable growth over the long term, noting that the constraints on growth differ across economies and evolve as they develop. He stressed the need to identify the most binding constraints at each stage and adapt policy responses as they evolve.
He also participated in the session entitled “Global Imbalances," emphasizing that external surpluses and deficits reflect different economic conditions and structures between countries and do not necessarily represent an imbalance in themselves. He also noted that effectively addressing global imbalances requires looking beyond trade flows, including domestic financial and economic conditions and the structural factors that cause them.
During the session entitled “Sovereign Debt," Minister Aljadaan stressed that building a more robust international system to address debt challenges is not only about dealing more effectively with debt crises in fragile countries, but also requires reducing the accumulation of debt that does not contribute to achieving sustainable economic and development returns. He stressed that strengthening countries' capacities to assess their financing needs and manage their debt sustainability is a key pillar to prevent liquidity pressures from turning into deeper debt crises.
In a closed dialogue session, Minister Aljadaan, along with finance ministers and central bank governors, exchanged views with prominent private sector figures in the field of artificial intelligence, considering their role for innovation, productivity, economic growth.
On the sidelines of the meeting, Minister Aljadaan held several bilateral meetings with counterparts from participating countries, as well as senior officials from international financial institutions. The discussions covered global economic trends, financial issues of mutual interest, and opportunities to strengthen cooperation and exchange expertise across economic and financial fields.