Federal Councillor Ueli Maurer takes part in virtual G20 Finance Ministers Meeting

Bern, 23.03.2020 - Today, Federal Councillor Ueli Maurer took part in the meeting of G20 finance ministers and central bank governors to discuss the economic challenges posed by the Covid-19 pandemic. The meeting, in which Swiss National Bank Chairman Thomas Jordan also participated, was held by video conference.

The finance ministers and central bank governors emphasised the need for an effective and united approach in order to deal with the crisis caused by the Covid-19 pandemic. In the short term, an immediate global response is necessary, to prevent lasting negative economic consequences. Over the medium and long term, economic recovery must be fostered, output levels must return to pre-pandemic levels and the foundations for stronger economic growth must be laid. Over the next few days, the virtual G20 summit of heads of state and government will address these topics.

Federal Councillor Ueli Maurer also stated that lessons should quickly be learned from the crisis. Switzerland is willing to support a working group in this regard.

Saudi Arabia, which currently holds the G20 presidency, invited Switzerland to participate in all G20 work streams and meetings for the first time in 2020. This is the sixth consecutive time that Switzerland is participating as a guest in the G20 Finance Ministers and Central Bank Governors Meetings concerning financial and monetary issues. Further meetings of the G20 finance ministers will take place this year in July and October.

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