G20 finance chiefs to discuss global economy on Wednesday

RIYADH: Finance ministers and central bank governors of the G20 countries will hold a meeting on Wednesday to discuss the global economy, negative risks, and policies to ensure a sustainable economic recovery. Saudi Finance Minister Mohammad Al-Jadaan and Dr. Ahmed Al-Khulaifi, governor of the Saudi Arabian Monetary Authority, will co-chair the meeting.
The finance chiefs will discuss ways to support the global economy during the coronavirus disease (COVID-19) pandemic. They will also review the progress made in the G20 initiative to suspend debt service payment and a proposal to extend the suspension to 2021.
The participants will also address structuring and regulatory issues related to the G20 financial sector to keep pace with rapid digital transformation. The G20 ministers will discuss the outlines of a fair, sustainable, and modern international taxation system. In this context, they will discuss challenges arising from the digitization of the economy and the resulting tax base erosion.