Obaid Humaid Al Tayer, Minister of State for Financial Affairs, participated today, Monday, in the extraordinary meeting of finance ministers and central bankers, within the Group of Twenty (G20) meeting held through visual communication techniques, with the aim of discussing ways to unite international efforts to address the risks of the epidemic “Covid-19”, And reduce its economic and social impacts on the region and the world.
Procedures and measures
Al Tayer pointed out the necessity of holding these meetings, especially at a time when the entire world is witnessing the spread of a “COVID-19” epidemic, which calls for taking exceptional measures and measures, stressing that the UAE government has taken all necessary measures to mitigate the effects of the epidemic and support companies and individuals. , As the state has taken monetary and financial policy measures to support financial stability, in addition to all the necessary preventive measures in order to protect public health.
Al Tayer said: “The meeting of the finance ministers and central bankers of the Group of Twenty constitutes a platform that allows finance ministers and central bankers the opportunity to dialogue and discuss ways to confront the consequences of the COVID-19 epidemic, as the current situation requires uniting the efforts of all parties to overcome this crisis and ensure continued growth and sustainability Economic development and ensuring financial stability.
Protect the economy
The meeting discussed the solutions and policies used to protect societies and the global economy, based on the efforts made by various government agencies from the participating countries, the implications of the spread of the COVID-19 epidemic, and its implications for the economy, the local, regional and global community. Also during the meeting, the prudential financial policies taken by the UAE to combat the epidemic and support individuals and businesses within the country were presented.
It is noteworthy that the extraordinary meeting of the finance ministers and central bank governors of the Group of Twenty came from the invitation of the Kingdom of Saudi Arabia, and in light of its presidency of the Group of Twenty this year.