2nd Extraordinary G20 Virtual Meeting

Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman participated in the 2nd Extraordinary G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Saudi Arabian Presidency to discuss the impact of COVID-19 pandemic on the global economy and coordinate efforts in response to this global challenge. G20 Finance Ministers and Central Bank Governors during the 1st Extraordinary Virtual G20 FMCBG Meeting held on March 23, 2020 had decided to meet virtually on a regular basis to continue discussions on the evolution of the COVID-19 pandemic, including its impact on markets and economic conditions and take further actions to support the economy during and after this phase.  

• During the summit, the Leaders had tasked G20 Finance Ministers and Central Bank Governors to deliver a G20 Action Plan in Response to COVID-19, in close cooperation with relevant international organizations (IOs).
• the proposed G20 Action Plan and emphasized that such an exercise would provide an opportunity for immense cross learning and critical insights. Referring to the G20 Leaders statement, regarding regulatory and supervisory measures, she emphasised the importance of ensuring that the financial system continues to support and quickly revive the economy​.