Mohammed bin Rashid attends keynote session with IMF Managing Director

Photo : Dubai Government Media Office

Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, attended a special session at the World Governments Summit 2025. The session, hosted by International Monetary Fund (IMF) Managing Director Kristalina Georgieva, focused on global economic trends, the impact of artificial intelligence (AI) on jobs, and the importance of international cooperation.

The session, titled "A Conversation with the Managing Director of IMF," was moderated by CNN’s Richard Quest. Several UAE leaders were present, including His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE; His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi; His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai; His Highness Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah; and His Highness Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah.

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Global Economic Outlook

Kristalina Georgieva spoke about the challenges and opportunities facing the world economy. She noted that trade policies remain uncertain, and new economic measures like taxes, public spending, and technological changes such as AI and cryptocurrency could impact future growth. However, she pointed out that despite these uncertainties, the IMF predicts the global economy will grow by 3.3% this year.

She highlighted that some regions are doing well, like the Gulf countries, but others, including parts of Europe and developing nations, are still struggling. AI is changing jobs, and demographic shifts are putting pressure on different economies in unique ways.

Three Key Economic Principles

Georgieva outlined three key principles to help economies succeed in the future:

Deregulation – Governments should create policies that make it easier for businesses to grow and innovate.

Digitalisation – Countries should embrace technology and digital transformation to stay competitive.

Diversification – Nations should not depend on a single industry but should build a strong, varied economy.

She explained that governments that follow these principles will be better prepared for economic shifts and challenges.

Supporting Vulnerable Economies

During the discussion, Richard Quest asked about struggling countries that face economic instability. Georgieva admitted that she often worries about nations facing crises, conflicts, and weak governance. She revealed that the IMF is actively supporting over 50 vulnerable countries, particularly in sub-Saharan Africa.

She also praised the UAE for its leadership in providing economic aid, saying that the country plays a vital role in global stability and cooperation.

The Impact of AI on Jobs

AI is one of the biggest forces reshaping economies today. Georgieva compared it to a "tsunami" hitting the job market. She shared IMF data showing that AI will impact jobs differently in various regions:

In developed countries, 60% of jobs will change, improve, or disappear due to AI.

In emerging markets, about 40% of jobs will see changes.

In lower-income countries, the impact will be smaller but still significant.

She stressed the need for strong policies to ensure AI benefits everyone, instead of deepening inequalities.

The Future of Global Cooperation

Georgieva also spoke about the changing nature of international cooperation. She noted that the world is no longer led by a single dominant economy. Instead, emerging markets are becoming key players in global growth.

She urged countries to increase cross-regional collaboration and pointed out that the IMF is working to encourage more cooperation between different parts of the world. She said the UAE is a great example of a country that builds strong global partnerships to promote progress.

World Governments Summit 2025

The World Governments Summit 2025 has gathered more than 30 heads of state, 80 international organisations, and 140 government delegations in Dubai. The event features:

21 global forums on major future trends.

Over 200 interactive sessions with 300+ speakers, including world leaders and experts.

30 strategic reports published in partnership with global knowledge organisations.

More than 30 ministerial meetings and roundtables with 400+ ministers in attendance.

The summit serves as a platform for discussing the future of governance and global challenges, highlighting innovative solutions to shape a better world.