Deputy Prime Minister and Minister for Finance Heng Swee Keat participates in Second Extraordinary G20 Finance Ministers and Central Bank Governors Virtual Meeting

1.     Deputy Prime Minister and Minister for Finance, Mr Heng Swee Keat,
participated in the Second Extraordinary G20 Finance Ministers and Central
Bank Governors Virtual Meeting on 31 March 2020.

2.     The video conference was co-chaired by Saudi Arabian Finance Minister,
Mr Mohammed Al-Jadaan, and Governor of the Saudi Arabian Monetary
Authority, Mr Ahmed Alkholifey. G20 Finance Ministers and Central Bank
Governors discussed the outcomes of the 26 March 2020 Extraordinary
Virtual G20 Leaders’ Summit, including the development of a G20 Action
Plan to strengthen and coordinate the international response to address the
COVID-19 pandemic and measures to enhance financial resilience and
financial stability.

3.     At the virtual meeting, DPM Heng said: “The COVID-19 outbreak will change
the way we view globalisation. Temporary border and other restrictions may
be necessary to contain the virus. But we must not make such walls
permanent, nor turn inwards. Collaboration is the best and only way to
overcome the crisis. This is also our opportunity to evolve a new form of
globalisation that works for all countries, so let’s work together so that we
can all emerge stronger”.

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