Finance ministers and central bankers from the Group of 20 major economies met by videoconference on Tuesday, the second such meeting in a week, to discuss a global response to the spread of the coronavirus the its impact on economy, Reuters reports.
Last week, Saudi Arabia’s King Salman chaired a virtual G20 summit via video teleconference with world leaders to address the COVID19 crisis under the G20 Saudi Arabia Presidency. Leaders of G20 countries pledged last week to inject over $5 trillion into the global economy to limit job and income losses from the outbreak, while working to ease supply disruptions caused by border closures intended to limit transmission of the virus.
“We are injecting over $5 trillion into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to counteract the social, economic and financial impacts of the pandemic,” a statement released by the group said. “We will continue to conduct bold and large-scale fiscal support. Collective G20 action will amplify its impact, ensure coherence, and harness synergies. The magnitude and scope of this response will get the global economy back on its feet and set a strong basis for the protection of jobs and the recovery of growth.”
“Combatting this pandemic calls for a transparent, robust, coordinated, large-scale and science-based global response in the spirit of solidarity. We are strongly committed to presenting a united front against this common threat.”
