G20 ready to limit effects of coronavirus on global economy, Saudi finance minister
RIYADH: Finance officials from the Group of 20 major economies agreed on Sunday to continue monitoring the risk from the coronavirus outbreak and to adopt appropriate policies to limit the global economic impact, Saudi Arabia's finance minister said.
The two-day gathering in Riyadh was dominated by growing concern over the widening fallout from the coronavirus outbreak, with the International Monetary Fund predicting it would shave 0.1 percentage point off global growth.
During the meeting, which also included central bank governors heads of international and regional organizations, under the Saudi G20 Presidency, was chaired by Saudi finance minister Mohammed Al-Jadaan and the Saudi Central Bank
governor Ahmed Al-Kholifey.
They also discussed the global economic outlook and possible policy responses to support growth and safeguarding against downside risks, as well as the priorities of the Saudi G20 presidency, under the theme of “Realizing Opportunities of the 21st Century for All.”
They also addressed the tax challenges arising from the digitalization of the economy, utilizing the benefit of technology for infrastructure, developing domestic capital markets, and framing supervisory and regulatory issues for the digital era.
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