Page 942 - MOE ENGLISH PR - MAY 2024

uncertain future. In the past decade, they have not been able to grow or even
inflate their way out of debt, stressing the need for fiscal discipline and debt
transparency, when debt stocks increase due to below-the-line spending. For oil
exporters, the challenge is one of economic and fiscal-revenue diversification.
This is because of the structural change in global oil markets and the rising
demand for renewable sources of energy.”

In the first panel discussion, ‘Economic Frontiers: Navigating the Global
Landscape in 2024 and Beyond', speakers included Dr. Mahmoud Mohieldin, UN
Special Envoy on Financing the 2030 Agenda for Sustainable Development and
Executive Director, International Monetary Fund; Chris Williamson, Chief
Business Economist at Standard & Poor's Markets Intelligence; and Andrew
Torre, Regional President of Visa for the Central and Eastern Europe, Middle
East and Africa region. The session was moderated by Ziad Daoud, Chief
Emerging Markets Economist, Bloomberg Economics, and highlighted the
importance of strategic economic diversification, innovation ecosystems and the
role of foreign investments. It also discussed emerging industries, investment
opportunities, and the role of the Middle East in the rapidly evolving international
business environment.

In panel two, ‘MENA Economic Outlook: Adapting to New Global Realities', Dr.
Hala Elsaid, Minister of Planning and Economic Development of Egypt, Roberta
Gatti, who attended virtually, Chief Economist for the MENA region at the World
Bank and Dr. Nasser Saidi, President and Founder Nasser Saidi & Associates
Former DIFC Chief Economist, Economic Adviser & Consultant, focused on how
geopolitical shifts affect regional economies, including Middle East conflicts, the
Red Sea's strategic importance and changes within BRICS countries. They
analysed economic policies' impact on stability and growth, offering insights for
exploring this evolving landscape. The session was moderated by Dr. Rawaa
Harati, Founder and CEO, KINZ consultancy.

The ‘Digital Frontiers in Finance: Exploring Tomorrow’s Financial Services
Landscape', panel examined accelerating digital transformation, embracing
fintech innovations and navigating regulatory challenges. Speakers included
Emmanuel Givanakis, CEO of FSRA at ADGM, Rola Abu Manneh, CEO of
Standard Chartered UAE, Middle East, and Pakistan, Damian Hitchen, CEO of
Saxo Bank MENA, and the moderator Jean Abou Assi, Partner leading digital
financial services at PwC Middle East. They also discussed future market trade,
highlighting the interplay between innovation and regulation and shared insights
on adapting to an ever-evolving regulatory landscape.

The session ‘Tourism: The Pillar of Economic Strength', was moderated by Sunil
John, founder of Asdaa’ BCW and former CEO of the MENA region for BCW.
This discussion examined tourism as a key driver of economic growth,

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