The Saudi Minister of Finance and the governor of the Saudi Central Bank (SAMA) concluded their participation in the third G20 Finance Ministers and Central Bank Governors Meeting, which was held on Thursday and Friday in Rio de Janeiro.

Mohammed Al-Jadaan and Ayman bin Mohammed Al-Sayari took part in a discussion session titled “Global Economic Outlook and Persistent Challenges.”

Al-Jadaan pointed out that despite the noticeable recovery in the global economy, it remains below desired levels.

He highlighted the achievements of long-term economic planning under Saudi Vision 2030 and the importance of multilateral cooperation in addressing global challenges.

During the session on “International Tax Cooperation,” he expressed the Kingdom’s appreciation for efforts supporting the international tax cooperation agenda.

n the session on “Facilitating Finance to Achieve Climate and Sustainable Development Goals,” he underscored that sustainable finance required a coordinated global effort.

He also emphasized the importance of allowing countries to implement approaches aligned with their national policies and procedures, which must include carbon capture technologies.

In a session on development financing, participants discussed capital flows, global debt issues, and reforms of multilateral development banks.

Al-Jadaan highlighted the importance of addressing debt challenges in low-income countries facing high debt distress and reiterated the Kingdom’s support for efforts to enhance the implementation of the Common Framework for Debt Treatment Initiative.

ARAB NEWS