The G20 leaders summit will be held virtually on Nov. 21-22, Saudi Arabia said on Monday, in a blow to the Kingdom’s hopes of hosting the gathering in-person in Saudi Arabia, according to a statement.
The G20 will bring together the world’s economic leaders virtually in November.
Hosting the major event involving the world’s largest economies was set to be an opportunity for the Kingdom to showcase Saudi’s standing as a key player in the G20 and a force for economic stability, as well as demonstrate the Kingdom’s progress and promise in achieving Vision 2030 economic and social reforms. While the G20 will still take place virtually, it will not be the major in-person event the Kingdom had hoped for.
The summit will focus on “protecting lives and restoring growth, by addressing vulnerabilities uncovered during the pandemic and by laying down foundations for a better future,” the statement said.
The Group of 20 major economies have this year contributed over $21 billion to support measures such as the production and distribution of vaccines to fight the coronavirus outbreak, according to Reuters. They have injected $11 trillion to stem the economic impact of the pandemic and launched a debt suspension initiative for the world’s poorest countries aimed at deferring some $14 billion in debt payments due this year.
