On 24-25 February , 2023, His Excellency Mr. Mohammed Al-Jadaan, the Saudi Minister of Finance, and His Excellency Mr. Ayman Alsayari, the Governor of the Saudi Central Bank, participated in the 1st G20 Finance Ministers and Central Bank Governors' (FMCBG) meeting under India's G20 Presidency. The meeting brought together Finance Ministers and Central Bank Governors from G20 countries and invited countries, as well as heads of international and regional organizations.
The meeting included three sessions. The first session discussed topics related to international financial architecture, sustainable financing, and infrastructure. It provided guidance on how the G20 can support efforts to strengthen multilateral development banks so that they can face the common global challenges of the 21st century while maintaining focus on poverty eradication and other Sustainable Development Goals, reviewing a number of proposals on providing debt treatment for heavily indebted countries, including enhancing multilateral coordination between official bilateral creditors and private sector creditors.
The second session was entitled "Financial Sector and Financial Inclusin". It discussed the overall financial impact of the development of crypto assets in various forms, the risks they pose, and the way forward in the globally coordinated policy response.
The third session highlighted issues pertaining to the global economy, health, and international taxation. Participants exchanged their views on the global economic outlook and risks, including inflation developments.