Business leaders call for reforms as global economy faces ‘worst state in a century’

Erwin Oropesa

A “Store Closing” sign is displayed in the window of a store at the Elephant And Castle Shopping Centre in London, U.K., on Sept. 24, 2020. The shopping center is being closed to make way for a Qatari Diar Real Estate Investment’s venture to build almost 1,000 homes, a new college campus and stores.

Simon Dawson | Bloomberg | Getty Images

Top business leaders say the global economy is facing its worst crisis in a hundred years, and “downside risks remain elevated” unless urgent reforms are enacted during the G-20 summit hosted by Saudi Arabia in November.

“The global economy is in its worst state in a century,” warned Yousef Al-Benyan, chairman of Business Twenty (B20), a group made up of high-level CEOs from around the world. “The challenging opportunity is to build back better, with real urgency required from policymakers and business leaders,” he added.

Business Twenty is an

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