Finance officials from the Group of 20 countries on Saturday called for wide participation by bilateral creditors to implement a debt freeze initiative for the world’s poorest countries.
G20 finance ministers and central bankers agreed during a separate video conference on Monday to develop an "action plan" to respond to the outbreak, which the International Monetary Fund expects will trigger a global recession.
Japan called on Group of 20 counterparts to strengthen coordination to address potential risks to the world economy, as simmering trade tensions and China’s slowdown cloud the global growth outlook.
The global economy is likely to pull out of a brief growth slump later this year — with a little help from the world's central banks and from US and Chinese trade negotiators.
Group of 20 finance leaders on Sunday said that trade and geopolitical tensions have “intensified”, raising risks to improving global growth, but they stopped short of calling for a resolution of a deepening US-China trade conflict.
The Group of 20 finance ministers agreed on Saturday to compile common rules to close loopholes used by global tech giants such as Facebook to reduce their corporate taxes, a copy of the bloc›s draft communique obtained by Reuters showed.
Global finance leaders agree that growth has slowed but they remain hopeful for a modest rebound next year as long as trade and geopolitical tensions do not worsen.
This past week, as global leaders gathered in Washington for spring meetings, it quickly became apparent that despite Russia's ongoing assault on Ukraine, its membership in the G-20 remains firmly intact.
Sheikh Mohamed was briefed about the mangrove nursery in Ngurah Rai Forest Park, the different types of plants in the garden, in addition to the natural reserves that enhance Indonesia's efforts in tackling climate change.
During discussions at President Widodo's residence in the city of Solo, the two leaders reaffirmed the depth of UAE-Indonesia ties and their shared wish to cement them further while advancing the sustainable development of both countries.