UAE participates in virtual G20

The UAE has participated in the second virtual G20 meeting for ministers of finance and central bank governors.

The UAE’s Minister of State for Financial Affairs, Obaid Humaid Al Tayer joined the group to discuss ways to use the world’s financial institutions to contain economic impacts of the COVID-19 pandemic.

Al Tayer said there are financial and monetary measures that need to be taken by all members of the G20 to protect the international community prevent a global economic crisis.

These will involve taking medium and long-term precautionary steps and measures to stimulate market recovery.

The virtual meeting was initiated by Saudi Arabia, the host of the next G20 summit.