Riyadh, SPA:
The Saudi G20 Presidency and the Paris Forum holds a high-level virtual Ministerial conference today.
The conference discusses challenges around international capital flows volatility - as exacerbated in emerging market economies by the unprecedented COVID-19 crisis - and possible policy responses to help restoring sustainable flows of capital and mobilizing robust financing for development.
The conference is co-chaired by Mohammed Aljadaan, Minister of Finance of the Kingdom of Saudi Arabia, and Bruno Le Maire, Minister of Economy and Finance of France. The conference brings together Finance Ministers and Central Bank Governors, heads of International Financial Institutions (IFIs), chief executives of private financial institutions and prominent scholars.
The global response to the COVID-19 pandemic is delivering results, however, the situation remains challenging. Capital outflows from many emerging and developing countries have reached unprecedented levels, and their ability to draw upon an international pool of capital in a robust manner has been called into question.
In this context, the conference fosters in-depth discussions on key issues related to financial resilience and debt sustainability as well as considering the progress on the G20 Debt Service Suspension Initiative and on developing the finance agenda amid the COVID-19 pandemic.
The conference outcomes are expected to feed into the discussion of the G20 Finance Ministers and Central Bank Governors’ meeting to be held virtually on July 18, 2020, under the Saudi G20 Presidency.
Further details on upcoming meetings, including the Host Year Calendar, is available at www.g20.org.