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Exclusive – Draft Statement for Group/20: Coronavirus threatens a modest improvement of the global economy

UNITED STATES (OBSERVATORY NEWS) — The draft final statement of the G20 meeting scheduled for February 22 and 23 says financial officials of the world’s 20 largest economies are expecting a modest improvement in global growth in the current and next two years, but the coronavirus epidemic could threaten that.

Finance ministers and central bank governors of the Group of Twenty countries meet on Saturday and Sunday in Riyadh to discuss the global economy, while China is experiencing a virus that has killed more than two thousand people and imposed severe restrictions on travel and trade.

“After signs of stabilization at the end of 2019, global growth is expected to improve modestly in 2020 and 2021,” says the draft, seen by Reuters. The recovery is supported by continued adaptive financial conditions and signs of easing trade tensions.”

“However, global economic growth remains slow and risks to expectations remain, including those arising from the impact of the new Corona virus outbreak, geopolitical tensions and policy fog,” added the draft, which may be subject to amendments before the final version is adopted on Sunday.

Financial officials will adopt the decisions of the G20 summit held last year and strive for a “free and fair environment for trade and investment, non-discrimination, transparency, predictability and stability.”

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