Riyadh "Riyadh Daily"
World Summit

The meeting of the leaders of the G20, which is being held today under the chairmanship of Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, at the virtual summit, is an exceptional event in the world, to which all peoples aspire, since its only file represents a humanitarian and economic crisis for all the inhabitants of the earth, which is pandemic "Corona" (Covid - 19) It is also tackling how to coordinate global efforts to combat it and curb its humanitarian and economic impact, and to provide an urgent and coordinated response to the epidemic whose suferers exceeded 425 thousand people, of whom 19 thousand people died, and the number of people covered by measures of home isolation exceeded 2.6 billion, equalling one third of the world's population of 7.8 billion people according to the United Nations statistics in 2020.

Since assuming the presidency of the G20, the Kingdom continues its efforts to promote global consensus and cooperation to achieve tangible achievements, and seize opportunities to address future challenges. 

Therefore, its call for the summit, which received an immediate response and welcome from all countries, has come to address this pandemic that besieges humanity and the joints of the global economy, out of its keenness to  face the effects of the epidemic on the human and economic levels in the world.

Everyone is optimistic about the summit’s contribution to alleviating the effects of the crisis on all countries, and developing a unified global strategy to contain the effects of the virus, which the International Monetary Fund expects to result in a global recession. 

Thus, everyone is expecting the summit to come out with specific and practical initiatives and measures that fulfill the hopes of the peoples of the world to overcome the effects of the pandemic, pave the way to achieve a better future for the countries of the world, help global economies continue to enhance their cash flow, facilitate borrowing and defer tax cuts, extend the terms of loans granted and support companies.

Since the outbreak of the virus, the Kingdom continues its efforts wisely in dealing with its consequences, and getting ready for all expected scenarios in the future. It works to enhance the health security of society, and has taken all preventive and precautionary measures to protect the safety of citizens and residents, and deal with the financial and economic effects. 

The last announced efforts is the adoption of a comprehensive package of urgent initiatives and exceptional incentives amounting to 120 billion riyals, to support the private sector in managing its activities, and ensure the continuity of its business. 

The Custodian of the Two Holy Mosques government has been keen to use the tools available for positive intervention in the economy, mitigating the effects on economic activities, promoting the financial stability of the private sector, and maintaining financial and economic gains made by our national economy.

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