G20 Finance Ministers: Ready to Face Corona's Repercussions on Global Markets

G20 Finance Ministers: Ready to Face Corona's Repercussions on Global Markets


Saturday 07 March 2020 - 02:19

G20 Finance Ministers: Ready to Face Corona's Repercussions on Global Markets
Follow-up - Conscious

Finance ministers and governors of the G20 central banks said they were closely monitoring the development of the Coronavirus and its impact on markets and economic conditions.

In a statement issued by the ministers on the spread of the new coronavirus (19-COVID), according to the Saudi Press Agency (US), the ministers expressed their deep sorrow at the human tragedy resulting from the spread of the new Coronavirus (19-COVID) virus, and their full support for the measures that countries are working to implement to contain Spreading the virus, treating people with HIV and preventing its spread.
They added: "According to the agreement we reached at our meeting in February, we are closely monitoring the developments of the virus including its impact on markets and economic conditions, and we welcome the measures and plans implemented by countries to support economic activity, and we are ready to take further measures, including Financial and monetary measures as needed, with the aim of supporting the response to hiv resistance, supporting the economy during this phase and maintaining the robustness of the financial system.
They said: We will work with the international community to help developing countries cope with the effects of the outbreak, and we welcome the steps taken by the IMF, the World Bank Group and other international organizations to help member states use their available tools to the fullest extent possible, including providing funding To assist in emergencies, provide technical assistance and policy advice, as part of a coordinated global response.
They continued: We stress the need for cooperation to reduce the risk of unexpected shocks to the global economy, and to this end, we work closely with the IMF, the World Bank Group, the Organisation for Economic Co-operation and Development (OECD) and the Financial Stability Board, and we support coordination. Strong with WHO, specifically in the areas of information sharing, needs assessment and policy options that countries can apply to address the new coronavirus outbreak.
They said the G20 was an important forum for coordinating the global response in periods of uncertainty. We affirm our commitment to using all available policy tools to achieve strong, sustainable, balanced and inclusive growth and to prevent negative risks, and we will continue to review its individual and collective actions aimed at addressing the new Corna virus.

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