H.E. Obaid Humaid Al Tayer participates in fourth G20 Finance Ministers and Central Bank Governors' meeting

Heading the attending UAE delegation

  
H.E. Obaid Humaid Al Tayer participates in fourth G20 Finance Ministers and Central Bank Governors' meeting

Heading the attending UAE delegation, H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, participated in the fourth G20 Finance Ministers and Central Bank Governors’ meeting that took place virtually on 14 October 2020. The meeting discussed the latest global economic outlook in light of the latest developments and evolving situation with the COVID-19 pandemic.

The UAE delegation included H.E. Saif Hadef Al Shamsi, Deputy Governor of the Central Bank of the UAE.

During the meeting, H.E. Al Tayer stressed the importance of the calibration of policy responses as governments continue to pursue balanced and sustainable economic recovery. H.E. also noted that the economic growth prospects in the GCC region and around the world are intertwined with the path of COVID-19 outbreak. Thus, governments should remain vigilant and utilise all possible financial policy options to achieve a strong and sustainable economic recovery in 2021.

H.E. said: “I would like to thank the G20 members and participants for their collaboration on the development of the G20 COVID-19 Action Plan, and for showcasing the UAE’s contribution to the development of this flagship and unprecedented plan. the Action Plan is an exemplary model of the global collaboration that we needed to devise a coordinated and committed response to the pandemic. We are glad in the UAE to have been part of developing the plan, and we look forward to continuing our contribution to its development as the plan lives on to guide our response to this outbreak.”

The meeting discussed various topics including ways to enhance cross-border payments; developing rules for digital taxation among G20 countries; and the possibility of digital currency exchange. Member countries also reviewed the progress in the G20 Debt Service Suspension Initiative, which is subject to extension for another year. At the end of the meeting, the Finance Ministers and Central Bank Governors endorsed the deliverables of the Working Groups and signed off the Finance Track’s communique. A press conference - chaired by Saudi Arabia, under its G20 presidency - was held at the conclusion of the meeting

The Finance Ministers will reconvene for their final meeting of the year on November 20th, which will follow the joint Sherpas and Finance Deputies on November 19th.

-Ends-

For more information, please contact:
Mary Khamasmieh
Weber Shandwick
E: mkhamasmieh@webershandwick.com 

Rawad Khattar
Weber Shandwick
E: RKhattar@webershandwick.com  

Evita Karam
Weber Shandwick
E: EKaram@webershandwick.com 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases