On November 20, 2020, U.S. Treasury Secretary Steven T. Mnuchin participated on a video conference with G20 Finance Ministers prior to the 2020 G20 Leaders’ Summit. The call focused on the global economic effect of the COVID-19 pandemic and the G20 response. Secretary Mnuchin noted that the Debt Service Suspension Initiative, launched in April, is a key achievement of the G20 in response to the pandemic, and that the Common Framework agreed to by all G20 members will help support low-income countries by coordinating sovereign debt resolution if needed. Secretary Mnuchin thanked the Government of Saudi Arabia, in particular Minister of Finance Mohammed al-Jadaan, for the excellent leadership of the G20 this year. He also welcomed the Italian Ministry of Economy and Finance, which will host the G20 Presidency in 2021.