G20 finance ministers agree on delivering roadmap in response to COVID-19
Wednesday 01/April/2020 18:09 PM
By: Times News Service
Riyadh: The G20 Finance Ministers and Central Bank Governors agreed Tuesday on delivering a roadmap in response to the novel coronavirus.
The ministers met on Tuesday through a virtual meeting following the Extraordinary G20 Leaders' Summit held on March 26, a statement by the G20 Saudi secretariat said.
They also discussed the role of the International Monetary Fund the World Bank Group and other international financial institutions to deploy all available resources and explore additional measures needed to support emerging markets and developing economies amid the COVID-19 outbreak.
The measures include supporting financial stability and alleviating liquidity constraints. The officials welcomed the Word Bank Group's readiness to deploy as much as 160 billion US dollars over the next 15 months to support its member countries to respond to issue.
The G20 Finance Ministers and Central Bank Governors tasked the relevant working groups to deliver on the roadmap during their virtual meeting scheduled on April 15. They agreed to continue to discuss and take urgent actions needed to address the global challenges.