The Saudi Presidency of the group that includes the largest economies in the world stated that “the second virtual meeting of the finance ministers and central bankers of the Group of Twenty will be held, headed by the Kingdom of Saudi Arabia, for the Group of Twenty.”
She added in a statement that the aim of this meeting is to “advance a coordinated global response on the Corona virus (COFED-19) pandemic and its human and economic impacts” and “follow up on the results of the hypothetical summit of G20 leaders held on March 26, 2020, and move forward with the implementation of the agreed actions Effectively and at the right time. ”
The leaders of the countries of the group pledged last Thursday during an emergency summit via video, their commitment to face the repercussions of the emerging Corona virus with a united front and pumped $ 5 trillion into the global economy to reduce the consequences of the measures taken to contain the epidemic, at a time when the specter of a global economic recession loomed on the horizon.
Russian President Vladimir Putin and US President Donald Trump agreed during a phone conversation on Monday to “work closely during the G20 summit” to combat the Covid-19 epidemic and address the economic crisis caused by quarantine, social divergence and travel ban measures taken to stem the epidemic.
A Chinese source said that out of the five billion dollars pledged by the Group of Twenty, Beijing has taken it upon itself to pump 344 billion dollars, of which tax measures make up the bulk of it.
For his part, the Russian President proposed during the Riyadh virtual summit to suspend the economic sanctions imposed on many countries, including his country, whose economy has been reeling since 2014 under Western sanctions due to the conflict in Ukraine.
These sanctions were compounded by the global economic crisis caused by Covid-19 and the collapse of oil prices due to the price war between Moscow and Riyadh.