Riyadh, November 20 The 15th summit of G20 leaders will be held by videoconference from November 21 to 22. Since the beginning of this year, the COVID-19 pandemic has seriously impacted the world economy. Against this background, all parties look forward to the upcoming G20 Leaders Summit to convey the message of strengthening multilateral cooperation, promoting the international community to jointly meet the challenges and helping the world economy resume growth.
As the rotating presidency of the G20, Saudi Arabia has repeatedly called on its members to strengthen cooperation and jointly respond to the pandemic. In March this year, King Salman of Saudi Arabia presided over a special summit of G20 leaders to deal with COVID-19. All parties pledged to take all measures to fight the pandemic, protect lives and revitalize the economy, sending a positive signal to the international community.
In April this year, the G20 agreed to suspend the principal and interest payment of the debts of the countries from May 1 to the end of this year through the Debt Suspension Initiative. In October, the G20 agreed to extend the debt deferral period for another six months to the end of June 2021. Relevant countries have been able to delay debt repayment and focus their resources on fighting the pandemic.
At present, the COVID-19 pandemic is still not over, and the world economy is still facing downside risks and uncertainties. Saudi Finance Minister Mohammed Jadhan said recently that the upcoming G20 leaders’ summit will be in a spirit of “cooperation and solidarity” to help the global economy grow in response to future shocks.
Jia Dan said that the COVID-19 pandemic poses serious challenges to the world. Building on the important results of the special summit of leaders in March, the summit will seek to strengthen international cooperation to support the global economic recovery and lay a solid foundation for strong, sustainable, balanced and comprehensive growth.
Yahya, director of the Saudi think tank Research and Knowledge Exchange Center, believes that the summit will be a very important summit in the history of the G20, given the profound impact of the coronavirus pandemic. G20 leaders will work to strengthen global stability by restoring world economic growth and strive to seek an early end to the COVID-19 pandemic.
The G20 has increased its focus this year on protecting lives and livelihoods, according to a statement issued by the G20 on the 19th that the COVID-19 pandemic poses long-term challenges to global health, humanitarian and the economy.
The statement said that this year, at a time when the international community needs resources to respond to the pandemic and maintain sustainable development, the G20 has focused on issues affecting sustainable development and taken urgent and special measures to deal with the impact of the pandemic, including implementing unprecedented fiscal, monetary and financial stability policies.
According to the statement, the G20 has injected more than $11 trillion into the global economy to maintain the economic and financial system, and has donated more than 21 billion US dollars for pandemic diagnosis, treatment and vaccine research and development.
“The G20 is determined to continue to address the major challenges it faces today and to work towards solutions,” Jadan said.” We have the opportunity to recover from this crisis in a stronger and more sustainable way.”