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Saudi Arabia Hosts First Virtual G-20 Summit in Bid to Coordinate World
Response to Coronavirus

Edward Yeranian

   CAIRO - Saudi Arabia hosted the first virtual summit of the G-20
   countries Thursday to discuss how to coordinate the world's economic
   response to the coronavirus crisis.
   Arab media highlighted Thursday's virtual summit of the G-20 states
   hosted by Riyadh, focusing on the need to coordinate policy at the
   world level to better combat the potential catastrophic effects of
   COVID-19 on the world economy.
   King Salman, addressing G-20 leaders, insisted that "the coronavirus
   pandemic requires us to take firm measures at various levels, because
   (the virus) affects a lot of people."
   The epidemic, he said, "affected economies globally ... "and "the world
   is looking up at the G-20 to face (the crisis)."
   Thursday's virtual summit follows a Monday virtual summit of G-20
   finance ministers to discuss the response of governments and central
   banks to a looming economic crisis stemming from the lockdown of
   millions of people in countries across the world.
   Mohammed Bishi, deputy editor of Saudi Arabia's Al Iqtisadiah
   newspaper, told Saudi media that it is imperative for countries to
   coordinate economic and monetary policy, rather than acting alone. He
   said that in the shadow of globalism and open markets, no nation can
   independently make decisions regarding interest rates or its currency
   without being in sync with what's happening in the rest of the world.

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