The G20’s Saudi-led action plan is Eng

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She urged more measures to be taken to ensure a flexible recovery … as the next stage of the pandemic entered

The International Monetary Fund Director Kristalina Georgieva confirmed that with the entry into the next stage of the Covid 19 crisis, more political measures will be needed, in addition to increasing international cooperation, noting that the G20 action plan headed by Saudi Arabia is the key to this effort.

This came in a statement issued today at the conclusion of the hypothetical meeting of Finance Ministers and Governors of the Central Bank of the Group of Twenty headed by the Kingdom of Saudi Arabia.

She explained that due to the continuing impact of the Covid 19 epidemic, the global economy faces a deep recession this year, with a partial and uneven recovery expected in 2021. Noting that while there is still a great deal of uncertainty about the outlook, the unprecedented actions taken by the G20 countries It helped others avoid a much worse outcome.

Georgieva said: It is to support countries to combat the crisis and prevent the global economy from being affected for a long time, the public health response remains the main priority for the protection of people, jobs and economic activity. Noting that all over the world countries have implemented exceptional measures to support individuals and workers; This lifeline should be maintained as needed.

She indicated that supportive fiscal and monetary policies must continue so that we can secure a safe and lasting exit from the crisis. Useful that early withdrawal of this support may hamper the recovery and incur greater costs.

Georgieva stated that policies need to prepare for and support transformational change; Some sectors may permanently shrink, while others, such as digital services, will expand. Noting that adapting to change in a comprehensive manner will require adequate social protection, training and assistance in finding work for workers.

“We need to unite to help the poorest and most vulnerable economies, especially those that suffer from high debt, or depend on severely affected sectors.” She praised the Group of Twenty debt suspension initiative (DSSI), and hopes that its extension will be considered.

She noted that to make the initiative more effective, greater private sector participation and greater debt transparency should be promoted. Indicating that there is a need to bridge the gaps in the structure of the international debt, and to think about debt relief in a more comprehensive manner for many countries … and the bank’s willingness to support these efforts.

Georgieva stressed that we can use the crisis as an opportunity to build a better future for all people (by maximizing the potential of the digital economy, encouraging green investment to combat climate change in a job-rich way, and investing in human capital to build a more inclusive economy).

She continued: The International Monetary Fund has moved with unprecedented speed in providing emergency financing to 72 countries in four months, and we will continue to support member states relentlessly.

She noted that there are particularly urgent needs to help low-income countries and small and fragile states that have been badly hit with support from our membership. She explained that the Fund continues to mobilize additional soft resources to assist it, and is working to intensify procedures to make better use of the existing special drawing rights.

Georgieva concluded her speech by saying: The International Monetary Fund will explore additional tools that could further assist in this unparalleled crisis. Our role at the center of the global financial safety net at this time is highlighted by the unprecedented need for member countries.

G20 summit in Riyadh, the new Corona virus, the International Monetary Fund

Director of “International Monetary”: The G20 action plan headed by Saudi Arabia is the key to cooperation in the Corona crisis

Already

The International Monetary Fund Director Kristalina Georgieva confirmed that with the entry into the next stage of the Covid 19 crisis, more political measures will be needed, in addition to increasing international cooperation, noting that the G20 action plan headed by Saudi Arabia is the key to this effort.

This came in a statement issued today at the conclusion of the hypothetical meeting of Finance Ministers and Governors of the Central Bank of the Group of Twenty headed by the Kingdom of Saudi Arabia.

She explained that due to the continuing impact of the Covid 19 epidemic, the global economy faces a deep recession this year, with a partial and uneven recovery expected in 2021. Noting that while there is still a great deal of uncertainty about the outlook, the unprecedented actions taken by the G20 countries It helped others avoid a much worse outcome.

Georgieva said: It is to support countries to combat the crisis and prevent the global economy from being affected for a long time, the public health response remains the main priority for the protection of people, jobs and economic activity. Noting that all over the world countries have implemented exceptional measures to support individuals and workers; This lifeline should be maintained as needed.

She indicated that supportive fiscal and monetary policies must continue so that we can secure a safe and lasting exit from the crisis. Useful that early withdrawal of this support may hamper the recovery and incur greater costs.

Georgieva stated that policies need to prepare for and support transformational change; Some sectors may permanently shrink, while others, such as digital services, will expand. Noting that adapting to change in a comprehensive manner will require adequate social protection, training and assistance in finding work for workers.

“We need to unite to help the poorest and most vulnerable economies, especially those that suffer from high debt, or depend on severely affected sectors.” She praised the Group of Twenty debt suspension initiative (DSSI), and hopes that its extension will be considered.

She noted that to make the initiative more effective, greater private sector participation and greater debt transparency should be promoted. Indicating that there is a need to bridge the gaps in the structure of the international debt, and to think about debt relief in a more comprehensive manner for many countries … and the bank’s willingness to support these efforts.

Georgieva stressed that we can use the crisis as an opportunity to build a better future for all people (by maximizing the potential of the digital economy, encouraging green investment to combat climate change in a job-rich way, and investing in human capital to build a more inclusive economy).

And the International Monetary Fund has moved with unprecedented speed in providing emergency financing to 72 countries in four months, and we will continue to support member states relentlessly.

She noted that there are particularly urgent needs to help low-income countries and small and fragile states that have been badly hit with support from our membership. She explained that the Fund continues to mobilize additional soft resources to assist it, and is working to intensify procedures to make better use of the existing special drawing rights.

Georgieva concluded her speech by saying: The International Monetary Fund will explore additional tools that could further assist in this unparalleled crisis. Our role at the center of the global financial safety net at this time is highlighted by the unprecedented need for member countries.

July 19, 2020 – Dhu al-Qi’dah 28, 1441

12:37 AM


She urged more measures to be taken to ensure a flexible recovery … as the next stage of the pandemic entered

The International Monetary Fund Director Kristalina Georgieva confirmed that with the entry into the next stage of the Covid 19 crisis, more political measures will be needed, in addition to increasing international cooperation, noting that the G20 action plan headed by Saudi Arabia is the key to this effort.

This came in a statement issued today at the conclusion of the hypothetical meeting of Finance Ministers and Governors of the Central Bank of the Group of Twenty headed by the Kingdom of Saudi Arabia.

She explained that due to the continuing impact of the Covid 19 epidemic, the global economy faces a deep recession this year, with a partial and uneven recovery expected in 2021. Noting that while there is still a great deal of uncertainty about the outlook, the unprecedented actions taken by the G20 countries It helped others avoid a much worse outcome.

Georgieva said: It is to support countries to combat the crisis and prevent the global economy from being affected for a long time, the public health response remains the main priority for the protection of people, jobs and economic activity. Noting that all over the world countries have implemented exceptional measures to support individuals and workers; This lifeline should be maintained as needed.

She indicated that supportive fiscal and monetary policies must continue so that we can secure a safe and lasting exit from the crisis. Useful that early withdrawal of this support may hamper the recovery and incur greater costs.

Georgieva stated that policies need to prepare for and support transformational change; Some sectors may permanently shrink, while others, such as digital services, will expand. Noting that adapting to change in a comprehensive manner will require adequate social protection, training and assistance in finding work for workers.

“We need to unite to help the poorest and most vulnerable economies, especially those that suffer from high debt, or depend on severely affected sectors.” She praised the Group of Twenty debt suspension initiative (DSSI), and hopes that its extension will be considered.

She noted that to make the initiative more effective, greater private sector participation and greater debt transparency should be promoted. Indicating that there is a need to bridge the gaps in the structure of the international debt, and to think about debt relief in a more comprehensive manner for many countries … and the bank’s willingness to support these efforts.

Georgieva stressed that we can use the crisis as an opportunity to build a better future for all people (by maximizing the potential of the digital economy, encouraging green investment to combat climate change in a job-rich way, and investing in human capital to build a more inclusive economy).

She continued: The International Monetary Fund has moved with unprecedented speed in providing emergency financing to 72 countries in four months, and we will continue to support member states relentlessly.

She noted that there are particularly urgent needs to help low-income countries and small and fragile states that have been badly hit with support from our membership. She explained that the Fund continues to mobilize additional soft resources to assist it, and is working to intensify procedures to make better use of the existing special drawing rights.

Georgieva concluded her speech by saying: The International Monetary Fund will explore additional tools that can further assist in this unparalleled crisis. Our role at the center of the global financial safety net at this time is highlighted by the unprecedented need for member countries.

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