The Finance Ministers and Central Bank Governors of the G20 countries concluded their meeting held in Buenos Aires, Argentina, on July 21 and 22, 2018. The Saudi's delegation was led by HE Mr. Mohammed bin Abdullah Al-Jadaan, Minister of Finance along with HE Dr. Ahmed Alkholifey, Governor of the Saudi Arabian Monetary Authority (SAMA), and a number of officials from the Ministry of Finance, SAMA and the Saudi Secretariat of the G20.
The meetings discussions were around the global economy outlook and the biggest risks facing it. Ministers and governors agreed on the importance of continuing the G20 attempts to promote strong, sustainable and balanced growth, and implement structural reforms to enhance the outlook of the global economy.
Further discussions were regarding the priorities of the presidency of Argentina on the future of work and the impact of technological progress on the efforts of job creation and investment in infrastructure. This included ways to mobilize private sector resources for investment in infrastructure. A number of related topics were also discussed such as; financial legislation, international financial architecture, international taxation and measures to combat money-laundering and the financing of terrorism.
The meetings also discussed the subject of assets and digital currencies and their possible impact on financial stability and the International Monetary System (IMS), as well as discussing developments in financial technology and its role in promoting social and economic development, including creating jobs and fostering a culture of innovation. The meetings focused on the importance of following up on these developments to take advantage of the opportunities they provide and address the challenges and risks that could result from them.
On the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting, the Minister of Finance held several bilateral meetings with HE the Minister of Finance of Singapore Mr. Heng Swee Keat , Switzerland’s Minister of Finance HE Mr. Ueli Maurer, and the European Commissioner for Economic and Financial Affairs, Taxation and Customs Mr. Pierre Moscovici to discuss the G20 agenda, developments in the global economy, investment and economic cooperation, and a broad range of issues of mutual interest.