Modi for fresh crisis management system

PM Narendra Modi pitched for developing a new crisis management protocol to deal with global health crisis and urged the G20 grouping to work towards addressing shockwaves triggered by the pandemic. He also held separate telephonic conversation with Emir of Qatar Sheikh Tamim Bin Hamad al Thani and Crown Prince of Abu Dhabi Sheikh Mohammed Bin Zayed Al Nahyan. "They exchanged notes about the measures taken in their respective countries to contain the spread of the virus," said the Ministry of External Affairs. (CEPI) and Gavi, the Vaccine Alliance, on a voluntary basis.

The leaders also asked the WHO to submit a report to assess gaps in pandemic preparedness and report to a joint meeting of finance and health ministers in the coming months. The move will establish a global initiative on pandemic preparedness and response.

Talking trade

Trade ministers of the bloc are expected to meet soon to assess the impact of the pandemic on global trade. In a show of rare solidarity following years of bitter differences on trade matters, the G20 leaders have now committed to come together to “coordinate trade responses in ways that avoid unnecessary interference with international traffic and trade”.

The summit also saw the decision to implement emergency measures aimed at protecting health through targeted, proportionate, transparent, and temporary interjunctions. The member nations also decided to ensure the flow of vital medical supplies, critical agricultural products, and other goods and services across borders, and vowed to work to resolve disruptions to the global supply chains.

However, rather than focusing on the bigger players, the discussion took special care to address the challenges for poorer economies.

“We are gravely concerned with the serious risks posed to all countries, particularly developing and least developed countries, and notably in Africa and small island states,” the statement said.

The G20 urged the central banks of member nations to support the flow of credit to households and businesses, promote financial stability, and enhance liquidity in global markets. It also welcomed the extension of swap lines that central banks have undertaken.