Extraordinary G20 Finance Ministers Meeting
DPM Hong Attends Extraordinary G20 Finance Ministers
and Central Bank Governors’ Meeting
to Accept Debt Framework for the Poorest Countries in Need
Deputy Prime Minister Hong Nam-ki attended Extraordinary G20 Finance Ministers and Central Bank Governors’ Meeting held virtually on November 13 along with Finance Ministers, Central Bank Governors, and representatives from IMF, OECD, WB, FSB from G20 countries to extend the implementing Debt Service Suspension Initiative (DSSI) through June 2021 and endorse the “Common Framework for Debt Treatments beyond the DSSI”
At the meeting, DPM Hong suggested priority tasks to prepare for the post Covid-19 era.
- Transition to a digital and green economy: DPM Hong suggested governments to look beyond COVID-19 and preemptively come up with counterplans. In this regard, he introduced Korean New Deal, which will accelerate the transition to digital economy and deal with climate change.
- Revitalize global trade through multilateral trade system: DPM Hong emphasized the importance of revitalizing global trade through multilateral trade system and suggested the G-20 nations to build a free, fair, and predictable trade environment.
Attached: Extraordinary G20 Finance Ministers& Central Bank Governors Meeting Final Statement (November 13, 2020)
Please refer to the attached pdf
