He expressed Saudi Crown Prince Mohammed bin SalmanHe expressed his hopes that the decisions of the G-20 summit will enhance global economic growth rates.
In their closing statement, G20 leaders said on Wednesday that central banks in their major economies will continue to assess the pace of monetary policy tightening, taking into account the need to reduce “cross-country spillovers,” according to the summit’s joint closing statement.
Prince Mohammed bin Salman said, “We hope that the decisions of the G-20 summit will contribute to strengthening cooperation between the countries of the group.
In a Leaders’ Declaration, G20 members reaffirmed their commitment to avoid excessive exchange rate volatility, recognizing that “the prices of many currencies have moved significantly” this year.
“The central banks of the G20… are closely monitoring the impact of price pressures on inflation expectations, and will continue to appropriately assess the pace of monetary tightening in a clear, data-driven manner,” the statement said.
The statement added that central banks will also take into account the need to limit the fallout, referring to the concern among emerging economies about the impact that decisions to raise US interest rates sharply could have on their markets.
The Saudi Crown Prince, Prince Mohammed bin Salman, had met a number of world leaders on the sidelines of the G-20 summit being held in Bali.
The meetings of the Saudi Crown Prince included British Prime Minister Rishi Sunak, Turkish President Recep Tayyip Erdogan, and a number of leaders and leaders.