Riyadh: The finance ministers of the G20 countries and the governors of their central banks gathered here on Saturday to discuss two days on the current situation of the global economy and the risks posed by coronavirus infection.
Organizers said that in this two-day discussion, the G20’s “Finance Ministers and Central Bank Governors will discuss possible policy measures to prevent the growth of the global economy and the dangers of growth and encourage growth.”
The organizers said, “Apart from this, they will also discuss the challenges of taxation in the era of digitization of economies. Saudi Arabia is chairing this conference. Its theme is ‘Recognition of 21st Century Opportunities for All’.
This is the first time the G20 presidency has come to any Arab country. During this two-day meeting, Saudi Arabia’s Finance Minister Mohammed al-Zadan and Saudi Arabia’s central bank governor Ahmed al-Khalifi will be in the role of chairman.
The meeting is taking place at a time when the spread of coronavirus infection in China is raising fears about its impact on the global economy. Cristalina Georgieva, head of the International Monetary Fund, said here on Friday that coronaviruses may have an impact on economies for a short time but the global economy is in a critical state.
Georgiwa said the impact on economies caused by coronaviruses could be the size of the English ‘V’ letter (immediate correction of the rapid fall) Coronavirus infection has killed 2,345 people in China so far.
China has said that it will not send any leader to participate in this G20 meeting. The Ambassador of China to Saudi Arabia will represent his country at this meeting.