The Communication and Financial Knowledge Center (CFKC), affiliated to Saudi Arabia’s Ministry of Finance, has held a virtual meeting on Tuesday in which it discussed the Group of 20 (G20) focusing on its origins, goal, and roles amid the Kingdom’s presidency role this year.
Assistant Minister of Finance for Macro Financial Policies and International Relations Abdulaziz Al-Rasheed, Senior Policy Officer in the financial track Program of the G20 Abdulmohsen al-Khalaf, and Saudi Arabia’s Deputy Sherpa of the G20 Secretariat and Executive Director of Policy Dr. Abdullah al-Hassan participated during the webinar.
The meeting discussed the definition of the G20 and its goals, as well as taking a look at the history of the group and its most prominent actions during the past years and its impact on the global economy and its growth. The virtual session also looked at the paths and groups around which the group's business is centered, such as the financial and Sherpa tracks and communication working groups.
The meeting also addressed the effects of the global coronavirus pandemic on the working of the group, and its efforts in the face of global crises.
“The meetings of the group depend on consensus among countries to come out with initiatives that serve the interest of the group and global economy in general. In terms of the priorities around the financial track for this year, the Kingdom has focsed on job opportunities for the 21 century amid the shift in economic and geopolitical changes the G20 members are seeing in the global economy as a whole,” al-Khalaf said.
For his part, al-Hassan spoke on the uniqueness of the Saudi G20 presidency being held this year amid the COVID-19 pandemic, forcing members to conduct virtual instead of face-to-face meetings this year compared to past presidencies.