Saudi Arabia hosts G20 finance ministers’ virtual talks

Saudi Arabia hosts G20 finance ministers’ virtual talks

RIYADH – G20 finance ministers and central bankers are set to hold talks Wednesday aimed at spurring global recovery from a coronavirus-triggered recession while considering a proposal to extend debt relief for poor crisis-hit countries.

The virtual talks, hosted by current G20 president Saudi Arabia, also include virtual global interfaith talks to discuss the relationship between religions, with no political agenda.

The meeting of finance ministers and central bankers comes a day after the International Monetary Fund (IMF) warned that global GDP would contract 4.4% in 2020 and the damage inflicted by the pandemic would be felt for years.

The meeting will “discuss updates to the G20 Action Plan — supporting the global economy through the COVID-19 pandemic,” G20 organisers said in a statement.

The group will also discuss “the progress made on the G20