KUWAIT: Kuwait's Finance Minister Barrak Al-Sheetan attends a virtual conference for Arab finance ministers. - KUNA

KUWAIT: Arab finance ministers came together via video call for talks aimed at setting a path towards greater economic cooperation, as a raging coronavirus pandemic continues to pummel the global economy. The talks, presided over by Kuwait's Finance Minister Barrak Al-Sheetan, come on Thursday; a day after a similar digital gathering involving senior officials from the Arab Economic and Social Council as part of its routine sessions, said a Kuwaiti finance ministry statement.

As the global economy is battered into recession by the pandemic, Sheetan said more cooperation on the economic front would only behoove the region, citing record high levels of unemployment across the world. The minister expressed hope that some of the economic body's most promising projects, including a pan-Arab food security initiative, would inevitably see the light of day, added the statement.

The aftermath of a "catastrophic port explosion" last month in the Lebanese capital Beirut that pushed the country to the precipice of economic collapse was front and center on the agenda, the statement revealed, in addition to other pressing matters such as Palestinian efforts to fight a coronavirus outbreak. The ministers, along with major financial institutions across the Arab world, will also look into some of the recommendations and suggestions the council has put forward, the statement added. - KUNA