Sheikh Mohammed attends a session hosted by IMF Managing Director at WGS

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in the presence of His Highness Sheikh Mansour Bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the UAE, and Chairman of the Presidential Court; His Highness Sheikh Khaled Bin Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi; Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence; His Highness Sheikh Maktoum Bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; 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, attended a keynote session entitled ‘A Conversation with the Managing Director of IMF,’ hosted by Her Excellency Kristalina Georgieva, IMF Managing Director, and moderated by CNN’s Richard Quest, revolving around the expected growth of the global economy, the transformative impact of artificial intelligence (AI) on employment opportunities, and the importance of international cooperation in an increasingly complex economic landscape.

Kristalina Georgieva acknowledged the uncertainty surrounding current trade policies and their potential economic implications, particularly in light of recent tariff measures, affirming that many policy elements are yet to unfold, including tax, public spending, reforms, immigration, deregulation, AI, and crypto, while the reaction of consumers, businesses, and countries remains to be seen.

Despite these uncertainties, the IMF projects global growth at 3.3% for the year, reflecting remarkable resilience despite recent shocks. However, Georgieva pointed to underlying concerns such as diverging economic fortunes between regions and the integration of transformational technologies into national policies, and acknowledged that while Gulf countries are performing well, Europe and some vulnerable emerging markets are still struggling. She emphasised that AI is reshaping work and productivity, while demographic shifts are creating varied economic pressures worldwide.

The 3Ds: deregulate, digitalise, and diversify

As the global economy undergoes significant transformations, Her Excellency outlined three essential principles for economic success: deregulate, digitalise, and diversify, highlighting the importance of fostering a clear space for private initiatives, embracing technological transformations and digitalising economies, while ensuring reliance on various sectors to drive the future. She emphasised the importance of creating flexible economic structures that allow for swift adaptation to rapid change.

The IMF’s role in supporting vulnerable economies

Richard Quest raised concerns about countries that struggle to keep pace with global transformations. Georgieva underscored the IMF’s critical role in stabilising economies, especially those facing crises. “I actually wake up in the middle of the night worrying about countries in conflict or emerging from conflict, and those with weak governance institutions,” she admitted.

She highlighted the IMF’s ongoing support for over 50 vulnerable nations, with a strong focus on sub-Saharan Africa. She also praised the UAE’s leadership in providing economic assistance,  ecognizing the country’s pivotal role in fostering global stability and cooperation.

AI: A transformational force with risks and opportunities

Georgieva acknowledged the disruptive power of AI, describing it as a “tsunami hitting labour markets”. She shared data showing that in advanced economies, 60% of jobs will either be enhanced, transformed, or eliminated by AI; while emerging and low-income countries will experience similar shifts at rates of 40% and below.

She emphasised the need for proactive policies to ensure that AI benefits all sectors of society rather than exacerbating inequalities.

Accent on global cooperation in a multipolar world

Addressing concerns over potential economic fragmentation, Georgieva acknowledged that global cooperation is evolving. “We are in a multipolar world,” she observed, stressing on the fact that the traditional model of cooperation, where one dominant economy led the way, is changing.

She pointed to emerging markets as key drivers of future economic growth and highlighted the need for increased cross-regional collaboration, affirming that the IMF is actively promoting more inter-regional and cross-regional cooperation. She added that countries, like the UAE, exemplify this approach by working with diverse partners to drive shared progress.

As the global economy continues to evolve, Georgieva’s insights at the World Governments Summit 2025 underscored the urgency of adaptability, strategic policymaking, and international collaboration. The world faces unprecedented challenges, but with the right approach, the opportunities for sustainable growth remain within reach.

The World Governments Summit 2025 has brought together over 30 heads of state and government, more than 80 international and regional organisations and 140 government delegations in Dubai. Its agenda features 21 global forums exploring major future trends and transformations, over 200 interactive sessions with more than 300 prominent speakers – including presidents, ministers, experts, thought leaders, and decision-makers – and over 30 ministerial meetings and roundtables attended by more than 400 ministers.  The Summit will also publish 30 strategic reports in partnership with its global knowledge partners.