Finance minister attends G20 meeting in Asheville, stresses economic resilience

Minister of Finance Mohammed Al-Jadaan participated in the second meeting of G20 finance ministers and central bank governors, held in Asheville, North Carolina, under the presidency of the United States on August 31 and September 1, 2026.

The meeting was attended by finance ministers and central bank governors from G20 countries, as well as representatives from invited nations and heads of international financial institutions.

Economic developments and resilience

During the session on "Current Economic Developments," Al-Jadaan noted that the global economy has demonstrated resilience in the face of shocks, but warned of increasing exposure to risks. He emphasized the importance of strengthening economic resilience through diversifying production alternatives, ensuring adequate stockpiles, and maintaining infrastructure with reserve capacity, describing these as the first line of defense against crises.

Growth and addressing imbalances

In the "Growth" session, Al-Jadaan stressed the need to empower economies to achieve strong, sustainable, and long-term growth, explaining that growth barriers vary according to each economy's circumstances and development. He noted that enhancing growth potential requires identifying the most significant constraints and tailoring policies and reforms to the specific challenges faced.

He also took part in the "Global Imbalances" session, where he stated that external surpluses and deficits reflect differences in economic structures and conditions between countries and are not necessarily imbalances. He added that addressing these issues requires looking beyond trade flows to include financial conditions and structural factors.

Debt challenges and artificial intelligence

In the "Sovereign Debt" session, Al-Jadaan explained that building a cohesive international system to address debt challenges requires limiting the accumulation of unproductive debt and enhancing countries' abilities to manage debt sustainability, to prevent liquidity pressures from escalating into deeper crises.

The minister also participated in a closed dialogue session with finance ministers, central bank governors, and private sector leaders on artificial intelligence, where participants exchanged views on the role of AI in innovation and economic growth.

Bilateral meetings and international cooperation

On the sidelines of the meeting, Al-Jadaan held bilateral talks with several counterparts and senior officials from international financial institutions. They discussed global economic developments, financial issues of mutual interest, and opportunities to enhance cooperation and exchange economic and financial expertise.