"Respond using all kinds of policy measures"
For the first time since the spread of the new coronavirus, a meeting in which G20 = 20 major countries discuss the world economy has started in Saudi Arabia.
In response, the Saudi Arabia, the presidency of the country, said, `` I would like to agree to use all means of policy to respond, '' following the successive announcement of concerns by the countries regarding the economic outlook. They agreed to mobilize policies such as support.
The meeting, in which the G20 Finance Ministers and the Central Bank Governors exchange views, began in Saudi Arabia's capital, Riyadh, on the 22nd, with the economic impact of the spread of the new coronavirus on the agenda.
Although the meeting was held privately, interviews with stakeholders revealed the content of remarks from each country.
This time, China has refused to attend ministerial-level attendance, but several delegates have stated that they are making every effort to stop the spread of the infection. The impact on the economy will be minimized. "
On the other hand, many countries were concerned that the supply of parts from China was stagnant, which would affect the production of companies and that oil prices would fall due to falling demand.
In addition, there was a strong sense of crisis, saying, "The impact on the economy will be greater than in the case of new type pneumonia and SARS, and may be longer."
At the end of the nearly two-hour discussion, the Presidency of Saudi Arabia said, "We will use all policy instruments to respond to downside risks from the global economy and to achieve strong, sustainable and balanced growth. I would like to reach an agreement. "However, there were no objections from each country, and they agreed to mobilize policies such as supporting the economy through fiscal policy.
The G20 meeting will adopt a joint statement incorporating the content of these discussions on the 23rd.
"Every country should work together" Deputy Prime Minister and Minister of Finance Aso
After the first day's discussions, Deputy Prime Minister and Minister of Finance Aso told reporters, `` While the world economy was expected to improve, the emergence of the new coronavirus as a downside risk led to the suspension of production activities and I reiterated that the public health crisis was a risk that could have serious macroeconomic consequences, such as by blocking the movement of people. "
Minister Aso then commented on the discussions with each country. "At the meeting, almost everyone who attended said remarks on the new coronavirus. However, since the absolute amount of information is sometimes unknown, it is important to work closely with each other. That's it. "