G-20 deputy finance ministers meet in Saudi Arabia

RIYADH, The deputy ministers of finance and governors of the central banks of the G20 held their first meeting in the Kingdom of Saudi Arabia, the current chair of the group.

Opening the meeting on Saturday, Saudi Minister of Finance Mohammad Al-Jadaan highlighted the Kingdom’s priorities for its presidency under the theme of “Realizing Opportunities of the 21st Century for All.” The meeting was co-chaired by the Saudi Assistant Minister of Finance for International, Financial Affairs and Macro-Fiscal Policies Abdulaziz Al-Rasheed, and the Deputy Governor of the Saudi Arabian Monetary Authority for Research and International Affairs Dr. Fahad Al-Dossari, according the Saudi Press Agency (SPA).

“Enhancing access to opportunities for all and promoting the digital financial inclusion of young people, women and SMEs are among our priorities for the G20 presidency this year, Al-Rasheed said in a speech to the gathering.

“We will also strive to find innovative solutions to develop domestic capital markets, leverage technology for infrastructure, frame supervisory and regulatory issues for the digital era, and address tax challenges arising from the digitalization of the economy,” he added.

On his part, the Deputy Governor of the Saudi Arabian Monetary Authority said, “We exchanged views on the global economic outlook, infrastructure investment, and international financial system to reinforce the G20’s common path towards strong, sustainable, balanced and inclusive economic growth.” The deputy ministers of finance and governors of the central banks of the G20 will meet again in February 2020 in Riyadh to resume discussions on agenda of the first meeting of the G20 finance ministers and central bank governors, to be held also here on February 22-23.

The meeting also gathered representatives of international and regional financial institutions and other guests.

Source: Kuwait News Agency