Minister of Finance Muhammad bin Abdullah Al-Jadaan and the Governor of the Saudi Central Bank (SAMA) Dr. Fahd bin Abdullah Al-Mubarak, participated yesterday in 2nd meeting of G20 finance ministers and central bank governors, under the Indonesian presidency, which, held in the American capital, Washington, on the sidelines of 2022 Spring Meetings of the International Monetary Fund and the World Bank Group, held in the presence of finance ministers and central bank governors from G20 countries, a number of representatives of the invited countries and heads of international and regional organizations.
The meeting discussed key issues related to significant changes in the global economic outlook since the February meeting, including the economic and financial implications of the crisis in Ukraine, the epidemic prevention, preparedness and response mechanism.
The Minister of Finance touched the global economy prospects, explaining the importance of international cooperation to support global economic recovery and prevent negative repercussions, reviewing the Kingdom of Saudi Arabia's continuous efforts to support individuals and countries in need, including its urgent support with an amount of 10 million dollars to Ukrainian refugees in neighboring countries.
With regard to sustainable financing, SAMA Governor pointed to the importance of providing the necessary flexibility to different national circumstances and priorities, stressing the need to build on previous efforts, especially through the use of the circular carbon economy approach, which was adopted at the Riyadh Summit during the Kingdom’s presidency of G20 held in 2020.
It is noteworthy that the Republic of Indonesia assumed G20 presidency on December 01, 2021 after the conclusion of the G20 Leaders Summit in Rome under the Italian presidency.