G20 Finance Ministers & Central Bank Governors Meeting – 14 October 2020 [Virtual]

While the global economy is experiencing a sharp contraction in 2020 due to the impact
of the COVID-19 pandemic, the outlook is less negative with global economic activity
showing signs of recovery as our economies have been gradually reopening and the
positive impacts of our significant policy actions started to materialize. However, the
recovery is uneven, highly uncertain and subject to elevated downside risks. We reaffirm
our determination to continue to use all available policy tools as long as required to
safeguard people’s lives, jobs and incomes, support the global economic recovery, and
enhance the resilience of the financial system, while safeguarding against downside risks.

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