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ABU DHABI / WAM
Obaid Humaid Al Tayer, Minister of State for Financial Affairs, on Monday participated in a virtual meeting with the G20 ministers of finance and central bank governors, to discuss ways to unite international efforts to address the coronavirus (Covid-19) pandemic and lessen its economic and social impact on the region and the world.
Al Tayer reiterated the importance of these meetings, especially in the face of the unprecedented challenges posed by the Covid-19 outbreak, which call for extraordinary measures. He also highlighted the fact that the UAE government has taken all the necessary measures to mitigate the effects of the pandemic, including supporting companies and individuals, supporting financial stability, in addition to other necessary preventive measures in the interest of public health.
Al Tayer said, “This meeting allows ministers of finance and central bank governors to discuss ways to coordinate their response to this global pandemic and explore ways to coordinate efforts to counter its spread, and ensure continued growth, sustainable economic development, and financial stability.”
They addressed solutions and discussed policies to protect societies and the global economy based on the efforts of various government entities from participating countries, as well as the implications of the Covid-19 pandemic on the economy and community. Furthermore, the precautionary fiscal policies of the UAE to counter the epidemic and support individuals and businesses within the country were also presented.
The virtual G20 meeting was initiated by Saudi Arabia, the host of the next G20 summit.