G20 Ministerial Meeting Stresses Promotion of Economic Growth Through Education

The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account
The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account
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G20 Ministerial Meeting Stresses Promotion of Economic Growth Through Education

The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account
The G20 Ministers of Education meet under the G20 Saudi Presidency. Photo: G20 Saudi Arabia Twitter Account

The Education Ministers of the Group of 20 major economies have committed during a virtual meeting under the G20 Saudi Presidency in enabling all people to realize the opportunities of the 21st century.

The ministers reaffirmed their “commitment to ensuring inclusive and equitable quality education and promoting lifelong learning opportunities for all.”

A statement issued by the Saudi G20 Secretariat on Saturday said that the conferees encouraged international collaboration and the sharing of best practices to advance education systems in the world.

“In this way, we will contribute to broader aims, including reducing poverty and inequality; promoting inclusive and sustainable economic growth; advancing access to quality education for all, especially girls, and empowering women, youth and vulnerable groups.”

The ministers highlighted “the importance of improving access to quality Early Childhood Education (ECE) as a foundation for the development of current and future generations and as a fundamental part of promoting equity and inclusion in education and encouraging lifelong learning.”

“We recognize the value of fostering internationalization in education as a means of improving the quality of education at all levels and cultivating global citizens who are prepared for an increasingly interconnected world,” the statement quoted them as saying.

The ministers encouraged the development of policies and measures to support the continuity of education while prioritizing the health and safety of students, teachers and parents during the pandemic.

They also stressed the importance of research and data to assess the learning outcomes and quality of distance learning.



Gold Eases as Traders Wait for US Economic Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters
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Gold Eases as Traders Wait for US Economic Data

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. Reuters

Gold prices eased on Tuesday, while investors awaited a slew of US economic data to gauge the size of the Federal Reserve's expected interest rate cut this month.
Spot gold fell 0.2% at $2,495.50 per ounce by 0630 GMT. Prices hit a record high of $2,531.60 on Aug. 20.
US gold futures steadied at $2,527.50.
The dollar lingered near a two-week high, making bullion less appealing for other currency holders.
"Gold is unable to recapture levels around all-time highs due to lack of fresh positive catalysts. If we see U.S. data pointing to a weak economy and the Fed taking to the narrative of having a jumbo rate cut, gold will rally," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific.
"Prices could go as high as $2,640 this year."
Market focus is on Friday's US August non-farm payrolls report. Economists surveyed by Reuters expect the addition of 165,000 US jobs.
ISM surveys, JOLTS job openings and ADP employment report are also on investors' radar.
Traders currently see a 31% chance of a 50-basis-point rate cut at the Fed's Sept. 17-18 policy meet and a 69% chance of a quarter-point cut.
Last week, data showed US consumer spending picked up in July, arguing against a 50-bp rate cut.
Gold "remains our preferred hedge against geopolitical and financial risks, with additional support from imminent Fed rate cuts and ongoing emerging market central bank buying. We open a long gold trade recommendation," Goldman Sachs said.
Bullion is considered a safe asset amid turmoil and tends to thrive in a low rate environment.
Spot gold may test support at $2,473, a break below that could open the way towards $2,434, according to Reuters technical analyst Wang Tao.
Spot silver dipped 0.5% to $28.35, platinum fell 1% to $921.05 and palladium lost 1% to $968.62.