IMFC commits to stronger global co-operation amid rising uncertainty, economic transformation

THE International Monetary and Financial Committee (IMFC) has pledged to strengthen international cooperation and sound policymaking to safeguard global stability, address rising debt risks, and advance sustainable growth as the world economy undergoes a profound transformation.

- SIPHELELE DLUDLA

In a statement on Friday following its latest 52nd meeting, IMFC chairman Mohammed Aljadaan, who is the Minister for Finance of Saudi Arabia, said that while global growth remains resilient, it faces mounting pressures from high debt, geopolitical tensions, extreme weather events, and shifting trade and demographic dynamics.

Aljadaan emphasized that these global challenges bring not only risks but also opportunities for reform and innovation. "The global economy is undergoing a profound transformation," Aljadaan said. "Major policy shifts in trade and other areas are reconfiguring global markets and policy frameworks, heightening uncertainty. Growth has been resilient, but strains are emerging."