The Framework Working Group Concludes its Final Meeting Under the Saudi G20 Presidency

 The Framework Working Group (FWG) concluded its sixth and final meeting under the Saudi G20 Presidency, where they discussed the progress report on the G20 Action Plan and the way forward to go back towards strong, sustainable, balanced and inclusive growth (SSBIG). Participants included representatives of the G20 Finance Ministers and Central Bank Governors (FMCBGs) in addition to relevant international organizations.

During the meeting, participants discuss the global economic development and outlook and the progress made against the G20 Action Plan. Speaking to the FWG's updated progress report, which will be submitted during the Riyadh G20 Leaders’ Summit in November 2020, Dr. Naif Alghaith, the Lead of the Saudi FWG team, said, "The impact of the crisis was quick and severe, presenting the G20 with a unique challenge to act swiftly and collectively. The endorsement of the Action Plan by G20 Finance Ministers and Central Bank Governors in April and its subsequent update in October is a testament to the G20's well-coordinated and prompt response, which would have not been possible without the utmost determination and cooperation of all member countries to alleviate the toll of the pandemic on the global economy.”

The IMF and the OECD presented their latest assessments on the global economy. Members discussed the IMF’s annual Strong Sustainable Balanced and Inclusive Growth(SSBIG)and the OECD’s recovery report, representing options toward global economic recovery.

The meeting concluded with a presentation by the Italian FWG team, who offered an overview of relevant upcoming Italian Presidency priorities, followed by a general discussion.