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US Treasury Hails Saudi Arabia for Excellent Leadership of G20

US Treasury Hails Saudi Arabia for Excellent Leadership of G20

Saturday, 21 November, 2020 - 18:15
US Treasury Secretary Steven Mnuchin. (Getty Images)

US Treasury Secretary Steven Mnuchin praised Saudi Arabia for its “excellent” leadership of the G20 this year.

Mnuchin took part on Thursday in a video conference with G20 Finance Ministers prior to the 2020 G20 Leaders’ Summit.

The call focused on the global economic effect of the COVID-19 pandemic and the G20 response, read a statement by the US Treasury on Saturday.

Mnuchin noted that the Debt Service Suspension Initiative, launched in April, is a key achievement of the G20 in response to the pandemic, and that the Common Framework agreed to by all G20 members will help support low-income countries by coordinating sovereign debt resolution if needed.

“Mnuchin thanked the Government of Saudi Arabia, in particular Minister of Finance Mohammed al-Jadaan, for the excellent leadership of the G20 this year,” said the statement.

He also welcomed the Italian Ministry of Economy and Finance, which will host the G20 Presidency in 2021.

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