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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday

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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday

Post by claud39 on Wed Mar 25, 2020 1:46 pm

G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday

 Riyadh, Kingdom of Saudi Arabia, March 24, 2020


G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Logo




 The Saudi G20 Presidency has set the date of the extraordinary virtual Leaders’ Summit for Thursday, March 26. 

King Salman Bin Abdulaziz Al Saud will chair the meeting to advance a coordinated global response to the COVID-19 pandemic and its human and economic implications.

 G20 members will be joined by leaders from invited countries, Spain, Jordan, Singapore, and Switzerland, as well as international organizations; United Nations (UN), World Bank Group (WBG), the World Health Organization (WHO) and World Trade Organization (WTO), the Food and Agriculture Organization (FAO), the Financial Stability Board (FSB), the International Labour Organization (ILO), International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD). 

Regional organizations will be represented by Vietnam the Chair of the Association of Southeast Asian Nations (ASEAN), South Africa the Chair of the African Union (AU), the United Arab Emirates the Chair of the Gulf Cooperation Council (GCC) and Rwanda the Chair of the New Partnership for Africa's Development (NEPAD). 

Further information about the G20, including the Presidency Agenda and full program of events, can be found at www.g20.org 


Media Enquiries: 
G20Media@saudisecretariat.gov.sa +966 11 829 6129



[url=https://g20.org/en/media/Documents/G20_Statement_King Salman Virtual Summit_EN (1).pdf]https://g20.org/en/media/Documents/G20_Statement_King%20Salman%20Virtual%20Summit_EN%20(1).pdf[/url]
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty G20 Leaders’ Statement Extraordinary G20 Leaders’ Summit Statement on COVID-19

Post by claud39 on Sat Mar 28, 2020 10:25 am

G20 Leaders’ Statement Extraordinary G20 Leaders’ Summit Statement on COVID-19


26/03/2020

G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Logo




The unprecedented COVID-19 pandemic is a powerful reminder of our interconnectedness and vulnerabilities. The virus respects no borders. Combatting this pandemic calls for a transparent, robust, coordinated, large-scale and science-based global response in the spirit of solidarity. We are strongly committed to presenting a united front against this common threat.

 We are deeply saddened by the tragic loss of life and the suffering faced by people around the world. Tackling the pandemic and its intertwined health, social and economic impacts is our absolute priority. We express our gratitude and support to all frontline health workers as we continue to fight the pandemic.

 The G20 is committed to do whatever it takes to overcome the pandemic, along with the World Health Organization (WHO), International Monetary Fund (IMF), World Bank Group (WBG), United Nations (UN), and other international organizations, working within their existing mandates. We are determined to spare no effort, both individually and collectively, to: 

▪ Protect lives. 


▪ Safeguard people’s jobs and incomes. 


▪ Restore confidence, preserve financial stability, revive growth and recover stronger.


 ▪ Minimize disruptions to trade and global supply chains.


 ▪ Provide help to all countries in need of assistance. 


▪ Coordinate on public health and financial measures.

 Fighting the Pandemic 

We commit to take all necessary health measures and seek to ensure adequate financing to contain the pandemic and protect people, especially the most vulnerable. We will share timely and transparent information; exchange epidemiological and clinical data; share materials necessary for research and development; and strengthen health systems globally, including through supporting the full implementation of the WHO International Health Regulations (IHR 2005). 

We will expand manufacturing capacity to meet the increasing needs for medical supplies and ensure these are made widely available, at an affordable price, on an equitable basis, where they are most needed and as quickly as possible. We stress the importance of responsible communication to the public during this global health crisis. We task our Health Ministers to meet as needed to share national best practices and develop a set of G20 urgent actions on jointly combatting the pandemic by their ministerial meeting in April.

 We fully support and commit to further strengthen the WHO’s mandate in coordinating the international fight against the pandemic, including the protection of front-line health workers, delivery of medical supplies, especially diagnostic tools, treatments, medicines, and vaccines. We acknowledge the necessity of urgent short-term actions to step up the global efforts to fight the COVID-19 crisis. We will quickly work together and with stakeholders to close the financing gap in the WHO Strategic Preparedness and Response Plan.

 We further commit to provide immediate resources to the WHO’s COVID-19 Solidarity Response Fund, the Coalition for Epidemic Preparedness and Innovation (CEPI) and Gavi, the Vaccine Alliance, on a voluntary basis. We call upon all countries, international organizations, the private sector, philanthropies, and individuals to contribute to these efforts.

 To safeguard the future, we commit to strengthen national, regional, and global capacities to respond to potential infectious disease outbreaks by substantially increasing our epidemic preparedness spending. This will enhance the protection of 


everyone, especially vulnerable groups that are disproportionately affected by infectious diseases. We further commit to work together to increase research and development funding for vaccines and medicines, leverage digital technologies, and strengthen scientific international cooperation. We will bolster our coordination, including with the private sector, towards rapid development, manufacturing and distribution of diagnostics, antiviral medicines, and vaccines, adhering to the objectives of efficacy, safety, equity, accessibility, and affordability.

 We ask the WHO, in cooperation with relevant organizations, to assess gaps in pandemic preparedness and report to a joint meeting of Finance and Health Ministers in the coming months, with a view to establish a global initiative on pandemic preparedness and response. This initiative will capitalize on existing programs to align priorities in global preparedness and act as a universal, efficient, sustained funding and coordination platform to accelerate the development and delivery of vaccines, diagnostics and treatments. 


Safeguarding the Global Economy 

We commit to do whatever it takes and to use all available policy tools to minimize the economic and social damage from the pandemic, restore global growth, maintain market stability, and strengthen resilience. 

We are currently undertaking immediate and vigorous measures to support our economies; protect workers, businesses—especially micro-, small and medium-sized enterprises—and the sectors most affected; and shield the vulnerable through adequate social protection. 

We are injecting over $5 trillion into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to counteract the social, economic and financial impacts of the pandemic.

 We will continue to conduct bold and large-scale fiscal support. Collective G20 action will amplify its impact, ensure coherence, and harness synergies. The magnitude and scope of this response will get the global economy back on its feet and set a strong basis for the protection of jobs and the recovery of growth.

 We ask our Finance Ministers and Central Bank Governors to coordinate on a regular basis to develop a G20 action plan in response to COVID-19 and work closely with international organizations to swiftly deliver the appropriate international financial assistance.

 We support the extraordinary measures taken by central banks consistent with their mandates. Central banks have acted to support the flow of credit to households and businesses, promote financial stability, and enhance liquidity in global markets.

 We welcome the extension of swap lines that our central banks have undertaken. We also support regulatory and supervisory measures taken to ensure that the financial system continues to support the economy and welcome the Financial Stability Board’s (FSB) announced coordination of such measures. 

We also welcome the steps taken by the IMF and the WBG to support countries in need using all instruments to the fullest extent as part of a coordinated global response and ask them to regularly update the G20 on the impacts of the pandemic, their response, and policy recommendations. 

We will continue to address risks of debt vulnerabilities in low-income countries due to the pandemic. We also ask the International Labour Organization (ILO) and the Organisation for Economic Cooperation and Development (OECD) to monitor the pandemic’s impact on employment.


Addressing International Trade Disruptions Consistent with the needs of our citizens, we will work to ensure the flow of vital medical supplies, critical agricultural products, and other goods and services across borders, and work to resolve disruptions to the global supply chains, to support the health and wellbeing of all people.

 We commit to continue working together to facilitate international trade and coordinate responses in ways that avoid unnecessary interference with international traffic and trade.

 Emergency measures aimed at protecting health will be targeted, proportionate, transparent, and temporary. We task our Trade Ministers to assess the impact of the pandemic on trade. 

We reiterate our goal to realize a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open. 

Enhancing Global Cooperation 


We will work swiftly and decisively with the front-line international organizations, notably the WHO, IMF, WBG, and multilateral and regional development banks to deploy a robust, coherent, coordinated, and rapid financial package and to address any gaps in their toolkit. We stand ready to strengthen the global financial safety nets. We call upon all these organizations to further step up coordination of their actions, including with the private sector, to support emerging and developing countries facing the health, economic, and social shocks of COVID-19.

 We are gravely concerned with the serious risks posed to all countries, particularly developing and least developed countries, and notably in Africa and small island states, where health systems and economies may be less able to cope with the challenge, as well as the particular risk faced by refugees and displaced persons. We consider that consolidating Africa’s health defense is a key for the resilience of global health. We will strengthen capacity building and technical assistance, especially to at-risk communities. We stand ready to mobilize development and humanitarian financing. 

We task our top relevant officials to coordinate closely in support of the global efforts to counter the pandemic’s impacts, including through proportionate border management measures in accordance with national regulations and to provide assistance where necessary to repatriate citizens.

 We value the efforts to safeguard our people’s health through the postponement of major public events, in particular the decision by the International Olympic Committee to reschedule the Olympic Games to a date no later than summer 2021. We commend Japan’s determination to host the Olympic and Paralympic Games Tokyo 2020 in their complete form as a symbol of human resilience.

 We stand ready to react promptly and take any further action that may be required. We express our readiness to convene again as the situation requires. Global action, solidarity and international cooperation are more than ever necessary to address this pandemic. We are confident that, working closely together, we will overcome this. We will protect human life, restore global economic stability, and lay out solid foundations for strong, sustainable, balanced and inclusive growth.




[url=https://g20.org/en/media/Documents/G20_Extraordinary G20 Leaders%E2%80%99 Summit_Statement_EN (3).pdf]https://g20.org/en/media/Documents/G20_Extraordinary%20G20%20Leaders%E2%80%99%20Summit_Statement_EN%20(3).pdf[/url]
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty Opening Remarks for the Custodian of the Two Holy Mosques during the Extraordinary G20 Leaders’ Summit

Post by claud39 on Sat Mar 28, 2020 10:31 am

Opening Remarks for the Custodian of the Two Holy Mosques during the Extraordinary G20 Leaders’ Summit 


26/03/2020


G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday King%20Salman


Your Majesties, Your Excellencies, Your Highnesses, Ladies and Gentlemen, 

In the beginning I’d like to welcome all of you to this extraordinary summit, thanking you all for your participation. 

We are holding this meeting to carry out our responsibilities as the leaders of the world’s largest economies, in order to combat the COVID-19 pandemic, which requires that we take firm measures on various fronts. This pandemic has greatly taken toll on human lives and caused tremendous suffering to many people around the world.

 And here, I would like to extend our deepest condolences to all countries around the world and to their respective citizens over the lives lost to this pandemic, wishing speedy recovery for all those who are infected. 

The impact of this pandemic has spread to reach the global economy, financial markets, trade, and global supply chains, hampering growth and development and reversing the gains accomplished in the previous years. 

This human crisis requires a global response. The world counts on us to come together and cooperate in order to face this challenge.

 On the health front, the Saudi G20 Presidency took the lead and worked with partners and relevant organizations to take all necessary actions in order to contain the spread of COVID-19 and safeguard people’s health. And, here, we value the effective measures adopted by different countries in this regard. We reaffirm our full support for the World Health Organization in coordinating the efforts to counter this pandemic. To complement these efforts, the G20 must assume the responsibility of reinforcing cooperation in financing research and development for therapeutics and a vaccine for COVID-19 and ensure the availability of the vital medical supplies and equipment. We must also strengthen the global preparedness to counter infectious diseases that may spread in the future. 

On the economic front, amid the slowdown in global growth and the turmoil in financial markets, the G20 has a pivotal role in countering the economic and social impact of this pandemic. Therefore, we must have an effective and coordinated response to this pandemic and restore confidence in the global economy. The Presidency welcomes the policies and measures taken by countries to revive their respective economies, including stimulus packages, precautionary measures, sector targeted policies, and job protection measures. But despite the importance of any country’s individual responses, it is our duty to strengthen cooperation and coordination in all aspects of the adopted economic policies.

 On the trade front, the G20 must send a strong signal to restore confidence in the global economy by resuming, as soon as possible, the normal flow of goods and services, especially vital medical supplies. 

In addition, it is our responsibility to extend a helping hand to developing countries and least developed countries to enable them to build their capacities and improve their infrastructure to overcome this crisis and its repercussions. 

The G20 has previously proven its effectiveness in mitigating the severity of the global financial crisis and its ability to overcome it. Today, through our cooperation, we are confident that we, together, will overcome this crisis, and move forward towards a future where all people thrive, prosper and are healthy. 


Thank you very much May peace, 

mercy, and blessings of god be upon you







https://g20.org/en/media/Documents/Virtual_Leaders_Summit_King_Salman_Opening_Remarks_EN.pdf
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty Via the video ... an emergency meeting of G20 finance ministers today

Post by claud39 on Tue Mar 31, 2020 10:07 am

[size=35]Via the video ... an emergency meeting of G20 finance ministers today[/size]


2020-03-31



[size=35]G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Doc-P-339898-637212397627969667
[/size]


Riyadh announced that the finance ministers and central bank governors in the G20 countries, which Saudi Arabia currently holds its rotating presidency, will hold a video meeting today, Tuesday, with the aim of "promoting a coordinated global response to the Covid-19 pandemic."


"The presidency of the Kingdom of Saudi Arabia for the Group of Twenty will hold the second virtual meeting of the finance ministers and central bankers of the Group of Twenty on Tuesday," the Saudi presidency said.

She added in a statement that the aim of this meeting is to "advance a coordinated global response on the Corona Virus (Covid-19) pandemic and its human and economic impacts" and "follow up on the results of the hypothetical summit of G20 leaders held on March 26, 2020, and advance the implementation of actions Agreed upon in an effective and timely manner. "






The leaders of the countries of the group pledged last Thursday during an emergency summit via video, their commitment to face the repercussions of the emerging Corona virus with a united front and pumped 5 trillion dollars into the global economy to reduce the consequences of the measures taken to contain the epidemic, at a time when the specter of a global economic recession looms on the horizon.


https://www.alsumaria.tv/news/%D8%AF%D9%88%D9%84%D9%8A%D8%A7%D8%AA/339898/%D8%B9%D8%A8%D8%B1-%D8%A7%D9%84%D9%81%D9%8A%D8%AF%D9%8A%D9%88-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D8%B7%D8%A7%D8%B1%D8%A6-%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%B4%D8%B1%D9%8A
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty Second Virtual Meeting of G20 Finance Ministers and Central Bank Governors to Address COVID-19

Post by claud39 on Tue Mar 31, 2020 10:11 am

Second Virtual Meeting of G20 Finance Ministers and Central Bank Governors to Address COVID-19

 Riyadh, Saudi Arabia,

 March 30, 2020 


G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Logo

The Saudi G20 Presidency will hold the Second Extraordinary G20 Finance Ministers and Central Bank Governors virtual meeting on Tuesday 31 March 2020 to advance a coordinated global response to the COVID-19 pandemic and its human and economic implications. 

The objective of the meeting is to follow up on the outcomes of the G20 Leaders’ Virtual Summit that was held on 26 March 2020 and progress on the timely and effective implementation of agreed-upon actions. 

Media Enquiries: G20Media@saudisecretariat.gov.sa +966 11 829 6129



[url=https://g20.org/en/media/Documents/G20_PR_Second Virtual FMCBG Meeting_30 March_ENG (1).pdf]https://g20.org/en/media/Documents/G20_PR_Second%20Virtual%20FMCBG%20Meeting_30%20March_ENG%20(1).pdf[/url]


https://g20.org/en/media/Pages/pressroom.aspx
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty G20 Trade and Investment Ministerial Statement

Post by claud39 on Tue Mar 31, 2020 10:17 am

G20 Trade and Investment Ministerial Statement
 

Monday, March 30, 2020



G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Image00001


We, the Trade and Investment Ministers of the G20 and guest countries, are profoundly saddened by the devastating human tragedy caused by the spread of COVID-19. The pandemic is a global challenge and requires a coordinated global response. The G20 Leaders, following their Extraordinary Meeting conducted on 26 March 2020, committed “to presenting a united front against this common threat.” Now more than ever is the time for the international community to step up cooperation and coordination to protect human life and lay the foundations for a strong economic recovery and a sustainable, balanced, and inclusive growth after this crisis.

 We have started monitoring and assessing the impact of the pandemic on trade as per the task entrusted to us by our Leaders. 

We are actively working to ensure the continued flow of vital medical supplies and equipment, critical agricultural products, and other essential goods and services across borders, for supporting the health of our citizens. Consistent with national requirements, we will take immediate necessary measures to facilitate trade in those essential goods. We will support the availability and accessibility of essential medical supplies and pharmaceuticals at affordable prices, on an equitable basis, where they are most needed, and as quickly as possible, including by encouraging additional production through incentives and targeted investment, according to national circumstances. We will guard against profiteering and unjustified price increases.

 We are concerned about the impact of COVID-19 on vulnerable developing and least developed countries, and notably in Africa and small island states. We are also concerned about the daunting challenges facing workers and businesses, particularly the most vulnerable ones. We will ensure our collective response is supportive of micro, small and medium-sized enterprises, and recognize the importance of strengthening international investment. 

We agree that emergency measures designed to tackle COVID-19, if deemed necessary, must be targeted, proportionate, transparent, and temporary, and that they do not create unnecessary barriers to trade or disruption to global supply chains, and are consistent with WTO rules. We will implement those measures upholding the principle of international solidarity, considering the evolving needs of other countries for emergency supplies and humanitarian assistance. We emphasize the importance of transparency in the current environment and our commitment to notify the WTO of any trade related measures taken, all of which will enable global supply chains to continue to function in this crisis, while expediting the recovery that will follow.

 As we fight the pandemic both individually and collectively and seek to mitigate its impacts on international trade and investment, we will continue to work together to deliver a free, fair, nondiscriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open.

 We will ensure smooth and continued operation of the logistics networks that serve as the backbone of global supply chains. We will explore ways for logistics networks via air, sea and land freight to remain open, as well as ways to facilitate essential movement of health personnel and businesspeople across borders, without undermining the efforts to prevent the spread of the virus. 

We will continue monitoring and assessing the impact of the pandemic on trade. We call on the international organizations to provide an in-depth analysis of the impact of COVID-19 on world trade, investment and global value chains. We will continue working with them to establish coordinated approaches and collect and share good practices to facilitate flows of essential goods and services.

 We will convene again as necessary, and we task the G20 Trade and Investment Working Group to address these issues closely and to identify additional proposed actions that could help alleviate the wide-range impact of COVID-19, as well as longer-term actions that should be taken to support the multilateral trading system and expedite economic recovery. The next Italian G20 2021 Presidency is committed to continue paying the highest attention to the international trade climate in the discussion of long-term actions.



[url=https://g20.org/en/media/Documents/G20_Trade & Investment_Ministerial_Statement_EN.pdf]https://g20.org/en/media/Documents/G20_Trade%20&%20Investment_Ministerial_Statement_EN.pdf[/url]
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty The G20 energy ministers began discussing oil production cuts

Post by claud39 on Sat Apr 11, 2020 6:57 am

The G20 energy ministers began discussing oil production cuts




10/04/2020





G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday 20062








The Economy News - Baghdad



Two sources in the sector said that the energy ministers of the Group of 20 began remote talks today, Friday, to discuss how they can help OPEC and its allies to stabilize oil prices.



Saudi Arabia, Russia and their allies are seeking, within the framework of what is known as the OPEC + group, to reduce oil production by ten percent of global supplies and will push the United States and other non-OPEC producers to a further five percent cut.









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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty The World Bank President is optimistic about the prospects for progress in debt relief

Post by claud39 on Sat Apr 11, 2020 7:02 am

The World Bank President is optimistic about the prospects for progress in debt relief


11/04/2020



G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday 20070







Economy News _ Baghdad



World Bank President David Malpas said he was confident progress was made on his joint call with the International Monetary Fund for a temporary suspension of payments by the world's poorest countries to their official bilateral debt.
Malpas said that this proposal will be discussed this week by financial officials from both the Group of Seven and the Group of Twenty and expected to obtain "broad approval" by the Joint Development Committee between the World Bank and the International Monetary Fund, which includes 25 members.

“The poor of the world are looking for the international community to show decisive leadership on debt relief and I am confident of progress,” he said in a post on LinkedIn. The World Bank and the International Monetary Fund first issued their call for debt relief on March 25. The initiative won support over the past week, including from the International Finance Institute, a group that represents more than 450 global banks, hedge funds and other financial institutions.

The proposal calls on China and other major creditors to suspend debt payments to the International Development Association (IDA) from May 1 and allocate resources to it to tackle the Corona pandemic. The founding countries include a quarter of the world's population and two thirds of the world's population who live in extreme poverty.

Malbas said that this proposal was discussed twice last week during meetings at the practical level of the Group of Twenty and will be put on the agenda during virtual meetings held at the ministerial level this week.

Two informed sources said the proposal was likely to be approved by G20 finance officials when they meet online on April 15. This issue is particularly sensitive to China, a member of the Group of Twenty, which has greatly increased its lending to developing countries during the past twenty years.

Data from Johns Hopkins University says the Chinese government, banks and companies lent to Africa about $ 143 billion between 2000 and 2017, mostly for massive infrastructure projects. Currently, the amount of loans provided by China exceeds that of the World Bank in Africa.









http://economy-news.net/content.php?id=19731
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty The final statement of the G20 energy ministers' meeting was issued without a direct mention of oil production cuts

Post by claud39 on Sat Apr 11, 2020 7:04 am

The final statement of the G20 energy ministers' meeting was issued without a direct mention of oil production cuts


11/04/2020



G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday 20074



Economy News _ Baghdad



The final statement of the G20 energy ministers' meeting was issued hours after the talks ended without direct mention of oil production cuts and only reference to "measures" to ensure balance.

Reuters sources have said that Saudi Arabia and other producers are still opposed to a Mexican plan for lower cuts than OPEC + requested.

At US President Donald Trump's daily press conference, he said the United States was ready to help Mexico by compensating "some shortcomings," adding that Washington expects compensation.







http://economy-news.net/content.php?id=19733
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty Saudi Arabia calls for reliable supplies at the G20 meeting

Post by claud39 on Sat Apr 11, 2020 7:27 am

Saudi Arabia calls for reliable supplies at the G20 meeting

11/04/2020


G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B9%D9%88-%D9%84%D8%A5%D9%85%D8%AF%D8%A7%D8%AF%D8%A7%D8%AA-%D9%85%D9%88%D8%AB%D9%88%D9%82%D8%A9-%D9%81%D9%8A-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%B4%D8%B1%D9%8A%D9%86



The Saudi Energy Minister told a conference of the G20 today, Friday, that it is necessary to ensure affordable energy supplies to facilitate the recovery of the global economy.


The Saudi Minister of Energy, Prince Abdulaziz bin Salman said in a speech at the opening of a remote meeting of the Group of Twenty, that reliable, affordable, and accessible energy supplies are necessary to enable basic services, including health care services, to ensure our ability to drive economic recovery efforts.


Accession of Mexico


Moreover, the Kremlin said on Friday that work is under way to persuade Mexico to join efforts to curb oil production, after a day of painstaking talks between the producers, which resulted in a conditional agreement with Mexico's participation.


For its part, Mexican Energy Minister Rossio Nali said in a meeting with OPEC and its allies that her country is proposing to reduce its oil production by 100,000 barrels per day in the next two months.


Nali added in a tweet that Mexico would cut production to 1.681 million bpd from 1.781 million bpd recorded in March.


New OPEC alliance


OPEC, Russia and other producers announced, within the framework of the so-called OPEC + coalition, plans, on Thursday, to cut oil production by more than one-fifth, but they said that a final agreement depends on the signing of Mexico after the required reductions were increased.


Kremlin spokesman Dmitry Peskov said Moscow welcomed the agreement and expressed hope that Mexico would join.
He added that he also hopes that the OPEC + agreement will have a positive impact on global markets.

Peskov added that the United States has legal restrictions regarding joining any productive bloc, but "there is no escape" from joint cuts to oil production.


Today, the energy ministers of the G20 countries will discuss what the OPEC + members reached yesterday in a meeting held presumably by Saudi Arabia to reset oil markets.


Today's meeting will be held via video, and will address measures to ensure the stability of the energy market, as the meeting comes at the invitation of Saudi Arabia, which chairs the Group of Twenty this year.


The G20 energy ministers will work, along with the invited countries and regional and international organizations, to mitigate the impact of the Corona epidemic on energy markets.




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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty The World Bank President is optimistic about the prospects for progress in debt relief

Post by claud39 on Sat Apr 11, 2020 2:25 pm

The World Bank President is optimistic about the prospects for progress in debt relief


11/04/2020



G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday 14243





The Economy News - Baghdad



World Bank President David Malpas said he was confident progress would be made on his joint call with the International Monetary Fund for a temporary suspension of payments by the world's poorest countries to their official bilateral debt.

Malbas said that this proposal will be discussed this week by financial officials from both the Group of Seven and the Group of Twenty and expected that it will obtain "broad approval" by the joint development committee between the World Bank and the International Monetary Fund, which includes 25 members.

"The world's poor are looking for the international community to show decisive leadership on debt relief, and I am confident that progress will be made," he said in a post on LinkedIn.

The World Bank and the International Monetary Fund initially issued their call for debt relief on March 25. The initiative won support over the past week, including from the International Finance Institute, a group that represents more than 450 global banks, hedge funds and other financial institutions.

The proposal calls on China and other major creditors to suspend debt payments to the International Development Association (IDA) from May 1 and allocate resources to it to tackle the Corona pandemic. The founding countries include a quarter of the world's population and two thirds of the world's population who live in extreme poverty.

Malbas said that this proposal was discussed twice last week during meetings at the practical level of the Group of Twenty and will be put on the agenda during virtual meetings held at the ministerial level this week.

Two informed sources said the proposal was likely to be approved by G20 finance officials when they meet online on April 15. This issue is particularly sensitive to China, a member of the Group of Twenty, which has greatly increased its lending to developing countries during the past twenty years.

Data from Johns Hopkins University says the Chinese government, banks and companies lent to Africa about $ 143 billion between 2000 and 2017, mostly for massive infrastructure projects. Currently, the amount of loans provided by China exceeds that of the World Bank in Africa.





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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty SAMA: THE G20 MAY DO MORE ON EXCHANGE LINES

Post by claud39 on Thu Apr 16, 2020 8:52 am

SAMA: THE G20 MAY DO MORE ON EXCHANGE LINES




- 16/04/2020





G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday %D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%B4%D8%B1%D9%8A%D9%86-%D9%82%D8%AF-%D8%AA%D9%82%D9%88%D9%85-%D8%A8%D8%A7%D9%84%D9%85%D8%B2%D9%8A%D8%AF-%D8%B9%D9%84%D9%89-%D8%B5%D8%B9%D9%8A%D8%AF-%D8%AE%D8%B7%D9%88%D8%B7-%D8%A7%D9%84%D9%85%D8%A8%D8%A7%D8%AF%D9%84%D8%A7%D8%AA






The governor of the Saudi Central Bank said on Wednesday that the G20 countries have set up lines to exchange currencies and repurchase facilities to deal with the repercussions of the Corona virus pandemic and may take further measures at the level of bilateral exchange lines.




"At the same time, we are looking forward to seeing more measures as the crisis develops, it will be related to the lines of bilateral exchanges," Ahmed Al-Khulaifi, governor of the Saudi Arabian Monetary Agency, told a news conference.















https://uabonline.org/%d9%85%d8%a4%d8%b3%d8%b3%d8%a9-%d8%a7%d9%84%d9%86%d9%82%d8%af-%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%8a-%d9%85%d8%ac%d9%85%d9%88%d8%b9%d8%a9-%d8%a7%d9%84%d8%b9%d8%b4%d8%b1%d9%8a%d9%86-%d9%82%d8%af/
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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty SAUDI FINANCE MINISTER: THE G20 REACHED AN AGREEMENT WITH THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK TO SUSPEND THE DEBTS OF THE POOREST COUNTRIES

Post by claud39 on Thu Apr 16, 2020 9:16 am

SAUDI FINANCE MINISTER: THE G20 REACHED AN AGREEMENT WITH THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK TO SUSPEND THE DEBTS OF THE POOREST COUNTRIES




-16/04/2020





G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday %D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A-%D9%85%D8%AC%D9%85%D9%88%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%B4%D8%B1%D9%8A%D9%86-%D8%AA%D9%88%D8%B5%D9%84%D8%AA-%D8%A5%D9%84%D9%89-%D8%A7%D8%AA%D9%81%D8%A7%D9%82-%D9%85%D8%B9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D9%88%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%84%D8%AA%D8%B9%D9%84%D9%8A%D9%82-%D8%AF%D9%8A%D9%88%D9%86-%D8%A7%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%A3%D8%B4%D8%AF-%D9%81%D9%82%D8%B1%D8%A7%D9%8B






Saudi Finance Minister Mohammed Al-Jadaan said that the G20 presidency submitted a work plan in coordination with the International Monetary Fund and the World Bank; an agreement was reached, and the suspension of state debt started with an immediate effect.




Al-Jadaan also added that the G20 countries pumped more than $ 7 trillion into the global economy to protect jobs, companies and economies.




Al-Jadaan noted that the debt suspension is large and will provide immediate liquidity of more than 20 billion dollars, adding that the debt suspension will continue for a year, which is unconditional, and requires only the involvement of countries with the IMF.















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G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday Empty SAUDI ARABIA OFFERS 500 MILLION DOLLARS TO CONFRONT CORONA

Post by claud39 on Sat Apr 18, 2020 8:43 am

SAUDI ARABIA OFFERS 500 MILLION DOLLARS TO CONFRONT CORONA




 -18/04/2020

G20 Extraordinary Virtual Leaders’ Summit on COVID-19 to be held on Thursday %D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%82%D8%AF%D9%85-500-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%85%D9%88%D8%A7%D8%AC%D9%87%D8%A9-%D9%83%D9%88%D8%B1%D9%88%D9%86%D8%A7


On Thursday, Saudi Arabia, which holds the G20 presidency for 2020, announced its contribution by providing $ 500 million to international organizations, to support efforts to combat the Corona virus, as this donation to relevant international organizations will contribute to enhancing emergency preparedness and response, developing and distributing diagnostic tools, treatments and new vaccines, and meeting needs Unmet, with regard to international monitoring and coordination, and ensuring that adequate supplies of protective equipment are available to health sector workers.




This donation comes in response to the Kingdom's commitment to what was agreed upon during the extraordinary summit of the leaders of the Group of Twenty, which was called and chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud last month. The leaders of the group committed themselves to provide the necessary support to finance international organizations and programs related to the response to the pandemic.




The Kingdom will allocate $ 150 million to the Alliance for Epidemic Preparation, $ 150 million to the Global Alliance for Vaccines and Immunization, and $ 200 million to other competent international and regional health and international organizations and programs.




billion USD




The Kingdom also renewed its call to all countries, non-governmental organizations, charitable foundations and the private sector to participate in international efforts to bridge the financing gap necessary to combat the Corona pandemic, as this gap is estimated at more than 8 billion US dollars, according to the Global Readiness Monitoring Council.




The G20, headed by Saudi Arabia, will continue to work collectively and immediately to confront the global effects of this pandemic, and will continue to implement relevant measures in the various tracks of the G20’s work.










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