The closing statement of the Group of Twenty stated: “The emerging coronavirus pandemic, which has affected unprecedentedly in terms of loss of lives, livelihoods, and economies, constituted an unparalleled shock that revealed weaknesses in preparedness and response procedures, and highlighted our common challenges.”
The statement added: “We will continue to do our best to protect lives, provide support with a special focus on those most affected by the crisis, in addition to working to return our economies to their path towards achieving growth, preserving jobs, and creating job opportunities for all.”
With regard to vaccines, tests and medicines, the leaders said, “We will spare no effort to ensure their equitable access to all at an affordable cost.”
According to the closing statement of their summit, the leaders of the G20 countries approved a plan to extend the freeze on debt service payments owed to the poorest countries until mid-2021, and to adopt a common approach to dealing with debt problems after that date.
“We are committed to implementing the initiative to suspend debt service payments, including extending it to June 2021 AD, as the initiative allows countries authorized to benefit from it to suspend debt service payments to official bilateral lenders, and we welcome the progress made in it so far.”
The G20 debt relief initiative helped 46 countries delay debt service payments in 2020 worth $ 5.7 billion.
The number of countries eligible for that postponement is 73, and the initiative provides up to $ 12 billion for these countries.
In their joint statement, the leaders added that they strongly encourage private creditors to participate in the initiative on similar terms when the eligible countries for the postponement request it.
They said that while global economic activity has recovered in part thanks to the gradual reopening of some economies, that recovery is uneven and uneven.
They also said that climate change is an urgent challenge.
The Director of the International Monetary Fund, Kristalina Georgieva, called for the immediate and effective implementation of the new G20 framework that was proposed to help the poorest countries permanently reduce their debt burden, but stressed that other countries also need help.
“We should also help countries not included in the framework to address debt-related vulnerabilities until their economies become more resilient,” Georgieva said in a statement.
King Salman bin Abdulaziz gave a closing speech in which he thanked the leaders and leaders of countries who participated in the work of the fifteenth session, which was held over two days.
The King of Saudi Arabia said in his speech: “We have been able to reaffirm the spirit of cooperation that has always been the cornerstone of the success of the Group of Twenty, and we now need that more than ever to face the consequences of the pandemic and build a prosperous future for the peoples of the whole world.”
He added: “We have achieved a lot this year, and we have fulfilled our commitment to continue working together, in order to rise to the level of challenges arising from the Coronavirus epidemic with the aim of protecting lives, livelihoods and the most vulnerable groups.”
King Salman announced that state leaders have adopted “important policies that will achieve recovery, leading to a strong, sustainable, comprehensive and balanced economy, and activating efforts aimed at making the global trading system fit for all, and creating conditions for achieving sustainable development.”
King Salman continued: “We have succeeded in presenting a message of reassurance and hope to our citizens and all peoples around the world through the leaders’ final statement of this summit, which I have the honor to announce that the G20 countries will adopt it, which is what the world has been expecting of us, and this achievement today is a culmination of our joint efforts during a full year. Challenges. ”
He stressed that “our collective and individual efforts will have a decisive role in overcoming the global challenge that exists in front of us now, and looking towards the future, we will work through empowering people, preserving the planet, and shaping new horizons, to lay the foundations for achieving our general goal, which is to seize the opportunities of the century.” Twenty-first for all ”.
And between the king Salman Saudi Arabia will continue to play a major role in the G20 to achieve global cooperation and find solutions to the most pressing global challenges of the twenty-first century in cooperation with our partners in the group and the rest of the countries.
He pointed out that “this is the first time that Saudi Arabia has been honored to assume the presidency of the Group of Twenty, although it was a year full of great challenges, but with your support we were able to rise to the level of the challenge.”
In his speech, the Saudi monarch announced the transfer of “the responsibility of hosting the Presidency of the G20 in 2021 to Italy, wishing it success in that,” stressing that his country is ready to provide assistance in any way possible.
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