Author: Business 20 Saudi Arabia
Organization/Publisher: B20 Saudi Arabia
Date/Place: March 2020/Saudi Arabia
Type of Literature: Special Report
Number of Pages: 24
Keywords: B20, G20, Covid-19, Global Economy
Brief:
This special report is an initiative by B20 Saudi Arabia to address the impact of COVID-19 on the business world. The B20 Chair, Yousef Al Benyan, aimed to engage the partners and the global business community to determine what needs to be done to recover from the losses due to the pandemic. Through this report, B20 wants to extend its support to the G20 by proposing a set of recommendations for the post COVID-19 phase. The six main recommendations are: Build health Resilience, Safeguard human capital, Prevent financial instability, Unclog global supply chains, Revive productive sectors, and digitalize responsibly and inclusively. The report also suggests the cooperation and collaboration between governments and global governance institutions to respond effectively to this common multi-dimensional crisis. The report acknowledges that this pandemic brings significant uncertainty and one may face a lot of challenges while tackling it. Demand recovery may take a lot of time and will significantly vary between sectors. De-globalization and globalization will both occur. Governments are recommended to keep pace with the changing circumstances while preserving public and private sector integrity. The report also suggests that institutions like WHO, UN and IMF should improve information sharing and coordinate in monitoring the progress.
By: Saima Rashid, CIGA Research Assistant
