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Saudi FM: G20 'Ready to Intervene with Necessary Policies' over Coronavirus

Saudi FM: G20 'Ready to Intervene with Necessary Policies' over Coronavirus

Sunday, 23 February, 2020 - 17:30
Saudi Finance Minister Mohammed al-Jadaan speaks at the meeting of G20 finance ministers and central bank heads. SPA
Asharq Al-Awsat

Finance leaders of the world's top 20 economies have agreed to continue monitoring the risks of the coronavirus outbreak, Saudi Finance Minister Mohammed al-Jadaan said Sunday.


"We have discussed the outbreak of coronavirus in China and other countries and all the G20 countries agreed collectively on being ready to intervene with necessary policies," Saudi Finance Minister Mohammed al-Jadaan told a news conference.


The Group of 20 (G20) finance ministers and central bank heads faced a sober presentation by the International Monetary Fund (IMF), which predicted the epidemic would shave 0.1 percentage points off global growth.


"Global growth is expected to pick up modestly in 2020 and 2021. The recovery is supported by the continuation of accommodative financial conditions and some signs of easing trade tensions," the communique from the financial leaders, who met in Riyadh, said.


In his press conference, Jadaan said that Saudi Arabia continues to support Lebanon and its people, and that it is following its developments.


The Saudi Finance Minister said that the Kingdom is in contact with other countries to coordinate any possible support to Lebanon based on the economic reforms that Beirut should implement.


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