Saudi liquidity grows 8.4%, reaching SR3.1 trillion in July 2025    Crawford stuns Canelo in Las Vegas    Sudden swerving among 3 major causes of accidents in Riyadh in 2024    Princess Haifa emphasizes pivotal Saudi role in shaping future of tourism    Sahm Capital names Saudi Olympian Fayik Abdi as brand ambassador    Over 434,000 people acquire first aid skills during nationwide health campaign    Qatar PM denounces Israel as Arab, Muslim ministers meet over Doha strike    Sushila Karki takes office as Nepal's first female prime minister amid protest fallout    Israeli strikes level Gaza City's Al-Kawthar tower as offensive intensifies    Trump calls for healing after Charlie Kirk assassination, blames 'radical left'    Saudi Arabia's legislative advancement highlighted at International Conference on Judicial Training    Renan Lodi terminates Al Hilal contract, club vows to protect rights    3 Syrians arrested for creating fake platforms    SR9000 fine for copyright infringement using AI    Riyadh to host WrestleMania 43 in 2027, first outside North America    King Charles and Prince Harry finally reunite after 19 months apart    Anastacia: Arnold Schwarzenegger made me sing Whatta Man 12 times    Thousands pay their last respects to Giorgio Armani, private funeral on Monday    French doctor goes on trial for poisoning 30 patients, 12 fatally    The key to happiness    Mike Tyson and Floyd Mayweather Jr. set to meet in exhibition boxing match in 2026    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



G20 Finance Ministers and Central Bank Governors held virtual meeting
Published in Saudi Press Agency on 23 - 03 - 2020

The G20 Finance Ministers and Central Bank Governors met virtually on Monday 23 March 2020, under the Saudi G20 Presidency, to discuss the impact of COVID-19 pandemic on the global economy and coordinate their efforts in response to this global challenge. They also discussed the preparation for the virtual G20 Leaders' Summit, which the Saudi G20 Presidency is convening in a few days to coordinate international efforts to address this pandemic and the related economic and social impacts.
Mr. Mohammed Aljadaan, the Saudi Finance Minister, opened the virtual meeting by stressing the need to step up the G20 joint efforts and act decisively and in a coordinated manner to provide support to people and businesses, safeguard the stability of the global economy and financial markets, restore confidence, and prevent deep and prolonged negative economic impacts. He highlighted that "since the last meeting of G20 Finance Ministers and Central Bank Governors in February, the global economy outlook has significantly deteriorated and that the evolution and global spread of the COVID-19 pandemic has impacted the global economy at the backdrop of disruption in elements of both supply and demand."
During the meeting, G20 Finance Ministers and Central Bank Governors agreed to closely monitor the evolution of the COVID-19 pandemic, including its impact on markets and economic conditions and take further actions to support the economy during and after this phase. They also agreed to develop a joint G20 Action Plan in response to COVID-19, which will outline the individual and collective actions that G20 has taken and will be taking to respond to the COVID-19 pandemic. Furthermore, G20 Finance Ministers and Governors discussed ways for stepping up coordinated efforts by bilateral and multilateral creditors to address the risks of debt vulnerabilities, especially in low-income countries, amid the COVID-19 pandemic. They also discussed the role of the IMF, working closely with the World Bank Group and other International Financial Institutions, to deploy all available resources and explore additional measures needed to support financial stability and alleviate liquidity constraints for emerging markets and developing economies.
The Saudi Finance Minister concluded the virtual meeting by emphasizing the need for G20 to enhance its cooperation in addressing the COVID-19 pandemic. He highlighted that the G20 should be ready to undertake further emergency response to address this global crisis and set a vision for the medium- and long-term actions that will foster a rapid recovery in the economy and catalyze the potential for stronger economic growth.
G20 Finance Ministers and Central Bank Governors will meet virtually on a regular basis to continue their discussion and take urgent actions needed to address the global challenge presented by the COVID-19 pandemic.


Clic here to read the story from its source.