News & Analysis: G20

Saudi Arabia repatriating thousands of migrants back to Ethiopia

“Saudi Arabia is stepping up the deportation of thousands of Ethiopians, including some who are suspected of suffering from coronavirus, an act that some migrant advocates have described as reckless and inhumane. Over the past 10 days, up to two flights a day carrying Ethiopian migrants have landed at Addis Ababa international airport, before returning to Saudi Arabia loaded with cattle exports.”

via Financial Times

Global leaders call G20 to action urging immediate pledging conference and task force to coordinate world response to COVID-19

A large number of African heads of state and other world leaders have addressed a letter to the governments of the G20 nations calling for “immediate internationally coordinated action–within the next few days–to address our deepening global health and economic crisis from COVID-19.”
Read the letter >

via Open Letters

African Ministers Outline Responses to COVID-19, Identify Needs to IFIs

“African Ministers of Finance have released recommendations on five issues related to the COVID-19 pandemic, and shared a report with the heads of the World Bank, the IMF, and the European Central Bank. Meanwhile, the UNECA called on the G20 to support Africa in addressing the pandemic.”

via SDG Knowledge Hub

The G20 Agreement the World Needs Now

“Borne out of the inability to strategize toward a solution to the coming oil price collapse, the G20 energy ministers will meet later this week to broker a potential solution. Three important and tangible things can come from this meeting and possibly lead to the G20 agreement the world really needs right now.”

via CSIS

The Pandemic Offers New Opportunities for South African Leadership in the Region

“Ramaphosa seems to have found a new gear. Not only has he been decisive and bold in dealing with the domestic outbreak, but he has found time and energy for elevating the broader regional outlook as well. He is using South Africa’s status as the only African member state of the G20 to insist that the group grapple with the continent’s looming economic crisis.”

via CFR

Debt relief for pain relief: Public finances and COVID-19 in low-income countries

“Now, the World Bank and IMF have called on bilateral creditors to support debt relief. This is urgently needed as low-income countries are at an immediate risk of a debt crisis whilst simultaneously facing an urgent need to support public health needs and their economy. The COVID-19 pandemic is a global challenge which requires international cooperation and coordination.”

via International Growth Centre

If COVID-19 is not beaten in Africa it will return to haunt us all

Ethiopian Prime Minister Abiy Ahmed argues efforts “to tackle the human and economic cost of this global scourge must be global in design and application… Without that, Africa may suffer the worst, yet it will not be the last. We are all in this together, and we must work together to the end.”

via Financial Times

A $100 billion stimulus to address the fall out from thecoronavirus in Africa

“Sub-Saharan Africa is facing at least a $100 billion balance of payment shortfall in 2020 compared with what was previously forecast. The coronavirus crisis is still unfolding, and impacts are only slowly becoming clearer. But there will be considerable declines in trade revenues and financial flows this year, as well as other effects”

via Overseas Development Institute

COVID-19: Immunising one country and leaving the rest to their fate not enough to protect citizens

“Saudi Arabia, the current chair of the G20, should convene a virtual meeting of all G20 leaders, and include the WHO to co-ordinate responses to fight the virus. This would entail keeping channels of communication open among world leaders on actions they are taking so as to build trust among citizens in their governments’ and international agencies’ responses.”

via SAIIA

Further Thoughts on the Economic Implications of COVID-19

“One major lesson of past recessions is that monetary policy alone is less successful than combined fiscal stimulus packages. The G-20 should meet (virtually) on an emergency basis and agree on such a program of demand stimulus, and the IMF Board should agree on the SDR allocation.”

via GWSB Growth Dialogue