In a post on his X account early Saturday, Hemmati stated, “Today I will depart for Saudi Arabia at the invitation of my Saudi counterpart and the head of the International Monetary Fund.” He is set to attend the high-level annual conference scheduled for February 16-17 in AlUla, a city in northwestern Saudi Arabia.

Hemmati elaborated that the Conference for Emerging Market Economies will convene over the next two days, bringing together economy ministers, central bank governors, and senior policymakers. The aim is to foster comprehensive progress and enhance economic resilience through international cooperation.

He also noted that the event presents an opportunity for bilateral discussions with officials from regional countries regarding the development of economic and financial relations.

The AlUla Conference is co-organized by the Saudi Finance Ministry and the International Monetary Fund (IMF). In a joint statement issued on November 24, Saudi Finance Minister Mohammed Aljadaan and IMF Chief Kristalina Georgieva emphasized that the conference would provide a unique platform for exchanging views on domestic, regional, and global economic developments while discussing policies and reforms designed to promote inclusive prosperity supported by robust international collaboration.