The outcomes of the summit also included seeking to find an international consensus on the economic issues at hand, and accelerating the pace of green economy data as one of the most important goals. Development Empowering and supporting the economic representation of women, enhancing the role of job opportunities for young people as one of the most important investment programs in human capital, in addition to addressing international trade issues and their components related to global security, flexibility of performance and overcoming their obstacles, energy, technology, digital transformation, artificial intelligence, innovations, international investment, a clean environment and climate change. And issues of health, food and production in sustainable ways.
Saudi analysts, in separate statements to “Sky News Arabia”, monitored their readings of the most prominent outcomes of that exceptional summit, which took place at a time when the world is beset by a series of challenges resulting from the health crisis associated with the pandemic CoronaWhich posed enormous challenges to the global economy, and had severe repercussions, especially on the poorest countries.
Crowning the success of the Kingdom
A member of the Saudi Shura Council, the economic expert, Fadl bin Saad Al-Buainain, said in statements to “Sky News Arabia” that Saudi Arabia’s success in holding a summit Twenty Group It is the culmination of its accumulated success during the presidency year, in which international efforts were mobilized to confront the exceptional challenges caused by Corona in its health and economic aspects, and I thought that the greatest success could be linked to the exceptional summit held in March, and resulted in important recommendations that contributed to limiting the health and economic repercussions of Corona. As a basis for the outcomes of the last summit, two summits were held in one year of the presidency, and this is exceptional for Saudi Arabia. “
He continued: “Therefore, the success of the November summit is an extension of the success of the March summit and the intense efforts of the Saudi leadership that deserve congratulations and blessings from all participating countries, the European Union and the International Monetary Fund .. We are proud of the Kingdom’s success at the summit and its active contribution to setting the agenda and final recommendations, which is a success for Arab countries.” And Islam, as the Kingdom represents its Arab and Islamic depth. “
Al-Buainain stressed the commitment to the recommendations of the March summit in the aspect of financial stimulus and support. The summit came out with important recommendations, including the recommendation to continue suspending debt service payments until June 2021, which is expected to benefit more than one billion people in debtor countries, in addition to reviewing the possibility of canceling some of the debts of the poorest countries, and making efforts to ensure that Vaccines The new Corona virus is provided to everyone in a fair and “affordable” manner, and to meet the remaining financing needs for these vaccines.
In his remarks, a member of the Saudi Shura Council pointed out that the summit adopted the circular carbon economy initiative, which is one of the important recommendations, due to the importance of the initiative in preserving the planet on the one hand, and the practical steps that make it compatible with the requirements of reducing harmful emissions and protecting the planet, which contributes to Reducing the possibility of making incentive decisions against fossil energy in the future. Also, a system repair world Trade Of the recommendations adopted by the summit.
In general – according to Al-Buainain – the summit presented multiple recommendations to stimulate the economy, protect and empower human beings, and achieve financial and digital inclusion, in addition to protecting the planet, which reinforced its success and exclusivity at the time of its holding and its outputs in light of the emergency conditions of Corona.
The summit came at a very exceptional time; This is because it is being held for the first time hypothetically, in addition to that it came in light of the Corona pandemic, which since the beginning of the G20 summits, a crisis similar to this one has not occurred, and it is usually an economic or health crisis, but for the first time the summit is held in light of an economic health crisis.
وقال Saudi economic analyst, Suleiman Al-Assaf to “Sky News Arabia”Everyone has been keen to attend and participate in the activities of the summit, which is held exceptionally by default this year due to circumstances Pandemic“.
The Saudi economist talked about the most prominent results of the summit, pointing to “decisions of nearly 11 trillion dollars to support the global economy, and 21 billion dollars for vaccines,” considering that an important matter “in order to help poor countries to obtain vaccines, as they may delay obtaining them or I can not”.
The other matter that Al-Assaf refers to, among the most prominent outcomes of the G20 summit, is a discussion of addressing imbalances in the global economy, and working to reform the World Trade Organization, especially in light of what he described as “imbalances that caused it to be unable to deal properly in light of the economic war between China And the United States of America.
The Saudi economic analyst added: “The summit also discussed, among its most prominent outcomes, dealing with the debts of the poorest countries, such as granting late payment exemptions, and so on … in addition to issues specific to women, and others related to international relations, the environment, emissions, and so on.”
The opening speech of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, was a road map towards the present and future of the global economy and people around the world, this is what was confirmed by the Saudi writer and economic analyst, Abdul Rahman Al-Jubairi, in statements to “Sky News Arabia”, who stressed that “The world today is aware of the repercussions of the Corona virus, which has cast a shadow over everyone,” indicating that the Kingdom has played an exceptional role to mitigate the impact of the virus, whether it is at the internal level, which has become a global model that the countries of the world are working on to benefit from its experience, or even at the level of cooperation International support in which the Kingdom provided international support. “
As the word Crown Prince came Mohammed bin SalmanTo move forward with steps of determination and confidence towards a better tomorrow, in a speech that carries with it the implications of the inclusiveness that the world awaits to overcome the exceptional global challenges.
Al-Jubeiri talked about a number of initiatives put forward by the Kingdom during its presidency of the G20, including the “Circular Carbon Economy” initiative, which aims – within a group of related initiatives such as the European Green Economy Initiative – to transform energy into low-emission economies, as efforts continue towards adopting a circular carbon economy. . Among the initiatives included in the outcomes of the summit was “Empowerment of Women and the Future of Youth”.
The writer and economic analyst talked about the “Debt Relief Initiative until June 2021”, with the group stressing among the summit outcomes on “the importance of joint efforts by borrowers, official creditors and the private sector to improve debt transparency,” and calling on the IMF to “continue exploring other tools.” Can serve members’ needs as the crisis develops under the initiative to suspend debt service payments.
Al-Jubairi said, “The Kingdom sought to create an executive framework, and showed its ability to open new economic horizons that resulted in cooperative efforts to contain the damage, so bundles of concerted and unified efforts were formed for the twenty countries, and therefore there were implementation channels that included the group’s ministers in the field of economy, money and health. A number of procedures that guarantee the employment of productive agents.
He pointed out that the Corona pandemic has exacerbated a crisis Debts The pain of poor countries increased, and uncertainty prevailed in the economic scene, so the Kingdom worked towards seeking to suspend the debts of poor countries to protect jobs, companies and economies, and thus this was approved.
An exceptional year
Saudi political analyst Mubarak Al-Ati said that “despite the repercussions of the pandemic and its pressure on the economy and policies of the whole world, the Kingdom of Saudi Arabia succeeded in leading the G20 in an exceptional year with unprecedented political, economic and health conditions and events, and was able to create a broad international consensus on 30 items. It included human life and the architecture of the planet. “
He said in statements to “Sky News Arabia” that despite the seriousness of the pandemic and its cause at the heart of all the plans of countries and summits, the Saudi leadership has shown high efficiency in managing the crisis, containing its effects and allocating billions to confront it healthily through the support of the World Health Organization and the global medical system and investment in research centers and institutions. Medical equipment in the world, in addition to providing 11 trillion dollars to support the recovery of countries’ economies and help the poorest and most indebted.
The Saudi political analyst pointed out that the Custodian of the Two Holy Mosques and the Crown Prince emphasized the importance of concerted international efforts to implement the plans drawn up and implement them on the ground.
He also stressed the messages affirmed by the Kingdom, which succeeded in bringing about what he described as “the great economic and social transformation of the Saudi people.”