2nd virtual session of G20 FMCBG

Union Minister for Finance & Corporate Affairs participated in the virtual session of the 2nd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Saudi Arabian Presidency to discuss the global economic outlook amid evolving COVID-19 pandemic crisis.

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Key-Points

Saudi Arabia was appreciated for its tireless efforts in delivering on the outcomes as mandated by the G20 Leaders during the Extraordinary Leaders’ Summit.

As per the direction, Saudi prepared the G20 Action Plan in Response to COVID-19.

The Action Plan was prepared with an aim to protect lives, safeguard jobs and incomes. It also included measures to restore confidence, preserve financial stability, revive growth and recover stronger.

The plan included providing help to countries that need assistance, coordinate on public health and financial measures and minimize disruption to the global supply chain.

Finance Minister highlighted the role of Finance Ministers and Central Bank Governors in safeguarding the lives and livelihood of people while maintaining macroeconomic stability in a sustainable manner.