G20 nations pledge to invest 5 trillion U.S. dollars into global economy

Saying to “do whatever it takes to overcome the pandemic”, the leaders of the Group of 20 major economies on Thursday, March 26, pledged to inject five trillion U.S. dollars in fiscal spending into the global economy to dull the economic impact of the novel Coronavirus.

The leaders, during a video conference summit, pledged to be committed to implement and fund all necessary health measures required to contain the spread of the Coronavirus.

“Emergency measures aimed at protecting health will be targeted, proportionate, transparent, and temporary,” said the G20 leaders. They committed to ensure flow of important medical supplies and other goods across borders and to resolve disruptions in supply chains.

Expressing concern about the risks to the nations with fragile healthcare system, the G20 leaders also urged the International Monetary Fund and the World Bank Group to extend help to the nations in need.

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