RIYADH, Feb 22 — Finance ministers and central bank governors from G20 nations weighed the potential impact of the coronavirus epidemic on the world economy as they met in Riyadh today for a two-day gathering. At the meeting in Saudi Arabia, the first Arab nation to hold the G20 presidency,...
Journalists sit in the media centre during the meeting of G20 finance ministers and central bank governors in Riyadh February 22, 2020. — Reuters pic
The gathering comes amid growing alarm over the new coronavirus as Chinese authorities lock down millions of people to prevent the spread of the disease, with major knock-on effects for the global economy. At the core of discussions at the gathering is an action plan to shield the world economy — already facing a slowdown — from the impact of the outbreak, said French Finance Minister Bruno Le Maire.
“There is a consensus among the G20 members on the necessity of getting this new international taxation system for the sake of fairness and efficiency,” said Le Maire. “You cannot have in a global economy different national tax systems that conflict with each other,” US Treasury Secretary Steven Mnuchin told the Riyadh gathering.
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