G20 finance meeting discusses post-Covid economic challenges, says Brunei

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew Abdullah attends the virtual meeting. - Borneo Bulletin/ANN

BANDAR SERI BEGAWAN, July 11 (Borneo Bulletin/ANN): Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah attended the 3rd G20 Finance Ministers’ and Central Bank Governors’ Meeting, representing Brunei Darussalam in his capacity as the ASEAN Chair (Finance Track) this year. B

runei Darussalam Central Bank Managing Director Hajah Rokiah Haji Badar in her capacity as Asean Chair (Central Bank Track) for 2021 was also present.

The meeting, held in a hybrid format, was co-chaired by Italian Minister of Economy and Finance Daniele Franco and the Governor of the Bank of Italy Ignazio Visco, and was attended by finance ministers and central bank governors from the G20 members, heads of international financial institutions and guest countries.

Discussions were held on issues including the global macroeconomic situation, policy responses to the global health and economic challenges caused by the Covid-19 pandemic, international taxation, sustainable finance and financial sector issues.

Contributing to the discussions on the global economy and health as well as policies for recovery, in his intervention Dato Seri Setia Dr Awang Haji Mohd Amin Liew shared views on maintaining a flexible policy mix and monitor economic and financial stability to ensure the quality and sustainability of the recovery; and the need to ramp up the production of Covid-19 vaccines so vaccination programmes globally can be accelerated.

Noting the high risks of possible future health crisis occurring, Dato Seri Setia Dr Awang Haji Mohd Amin Liew emphasised the necessity to scale up actions on better prevention, preparedness as well as responses.

Appreciating the recommendations contained in the report submitted by the G20 High Level Independent Panel on Financing the Global Commons for Pandemic Preparedness and Response and appreciate their recommendations, Dato Seri Setia Dr Awang Haji Mohd Amin Liew shared som initiatives to strengthen the region’s resilience against future health crisis which includes the establishment of the Covid-19 Asean Response Fund, and the Asean Regional Reserve of Medical Supplies for Public Health Emergencies.

Dato Seri Setia Dr Awang Haji Mohd Amin Liew also conveyed Asean’s recognition on the enabling role of infrastructure for regional economic integration, connectivity and growth.

In this regard, the minister shared the region’s initiatives in promoting sustainable and productive infrastructure development such as the adoption of the Framework for Improving Asean Infrastructure Productivity under the Master Plan on Asean Connectivity, as well as in responding to the acceleration of digitalisation, the launch of the Asean Digital Masterplan 2025. - Borneo BUlletin/ANN