The concern grows in the upper echelons of the economy. Finance Ministers and G20 Central Bank Governors Meeting in Riyadh Ready to Take Action to Counter "Real Risk" Coronavirus Poses on Global Economy, French Finance Minister Bruno Said Sunday The mayor.
"We are ready to take any additional economic measures if necessary to cope with a possible worsening of the impact on the world economy," French Minister of Economy and Finance told AFP after the event. of a G20 summit organized this weekend in Riyadh, without detailing the measures envisaged.
A “confirmed” risk
Spreading of charges, call for "solidarity" with suppliers: France announced on Friday several arrangements to assist French companies penalized in their activity by the epidemic. "The risk is now confirmed, the impact on global growth also, and it is now a real concern of all G20 members," said the minister.
In this context, "we have decided (...) to guarantee careful and daily monitoring of the epidemic and its development (...) ensured by the presidency of the G20 and by the International Monetary Fund," he added.
In addition to an action plan to protect the global economy from the impact of the epidemic, financial leaders from the world's top 20 economies also discussed ways to achieve a fairer and more comprehensive global digital tax system. ways to fight climate change. From this point of view, "it was a useful G20" and "significant" progress has been made, welcomed Le Maire.
A meeting scheduled for July in Berlin
On the subject of the taxation of large international groups, and in particular digital giants, "there is now a consensus to recognize the need to move forward on a global solution, within the framework of the OECD" (the Organization for economic cooperation and development), detailed the minister, expressing his satisfaction that Europe has made a "common front" against the United States.
A meeting of the technical groups is to take place in July in Berlin. "We hope that there will be a technical agreement at this meeting (…) so as to reach a global agreement at the end of 2020 on the issue of digital taxation," said Le Maire.
Another reason for satisfaction, “the climate returns for the first time in three years among the concerns of the G20. There was a blockage on these subjects (…) For the first time, the word climate change returns in the conclusions of a G20 of finance ministers with obviously the need to develop green finance to fight against climate change ”, a he added.
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