On Thursday (March 26), G20 leaders said they were committed to presenting a united front against the coronavirus pandemic, calling it an “absolute priority” to handle its health, social and economic impacts, France24 reported.
During a 90-minute video conference, hosted remotely by G20 President and King Salman bin Abdulaziz Al Saudi of Saudi Arabia, to debate the impact corona virus crisis, the leaders of the world’s largest economies said they were committed to restoring confidence, maintaining financial stability and reviving economic growth.
Coordination amongst G20 countries played a key role in efforts to stabilize the worldwide economy through the financial crisis that began in 2008, in line with Bloomberg.
“We will pump more than $5 trillion into the global economy through targeted fiscal policies, economic measures and guarantee programs to address the social, economic and financial impacts of the pandemic,” leaders said in a press release after the emergency online summit.
They also committed to swift cooperation with multilateral bodies resembling International Monetary Fund, the World Health ORganisation and regional banks to implement a “robust” financial package to support developing countries.
In a press release after the video call, Indonesian President Joko Widodo referred to the 2 “wars” the world is facing: with the virus and with the weakening global economy.
“The G20 must actively lead efforts to search out antivirals and cures for Covid-19,” he said, quoted by Bloomberg.
At the identical time, “we must prevent a worldwide economic recession through coordinated fiscal and monetary policies and develop and strengthen social safety nets.”
Indonesia is one in all the last countries to accentuate its fight against the coronavirus, because the archipelago has just announced The first confirmed cases of Covid-19 occurred on March 2weeks after many other countries around the globe announced the primary positive cases on their territory.
According to The Jakarta Post, With As of Friday, there have been 1,046 confirmed cases and 87 deathsIndonesia’s death toll is currently the best in Southeast Asia, and its fatality rate of 8.3% is amongst the best on the planet.
The statement was issued at the top of an emergency 90-minute video conference called by the world’s largest economies to coordinate responses to the epidemic that has infected greater than 470,000 people and killed greater than 21,000 people around the globe.
The members of the G20 are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, the Republic of Korea, Turkey, the United Kingdom Britain, the United States and the European Union (EU).
