G20 pledges to ‘do what it takes’ to fight global coronavirus pandemic
World counts on us to come together in order to face this challenge, says King Salman
The leaders of the most powerful countries in the world have pledged to “do what it takes” to combat the coronavirus disease (COVID-19) and mitigate its damaging effects on the global economy.
At an extraordinary “virtual summit” of the G20, under the presidency of Saudi Arabia, presidents, prime ministers and heads of state also committed to spending $5 trillion on measures to combat the infection and the economic and financial fallout from the global health threat. “The virus respects no borders. The G20 is committed to do whatever it takes to overcome the pandemic. We are determined to spare no effort, both individually and collectively,” the G20 pledged in its joint communique.
“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,” it added.
The two-hour digital discussion, hosted by King Salman in Riyadh and including US President Donald Trump and President Xi Jinping of China, was the first time the global community had come together amid the acute challenges presented by the virus, which has caused more than 20,000 deaths worldwide and ravaged national economies.
King Salman told the assembled world leaders: “This human crisis requires a global response. The world counts on us to come together and cooperate in order to face this challenge.”
Saudi Arabia will host the annual G20 summit in Riyadh in November. Convening Thursday’s digital meeting was a sign of how seriously the world community regards the threat from COVID-19, after previous special G20 meetings at the height of the global financial crisis. “The G20 has previously proven its effectiveness in mitigating the severity of the global financial crisis and its ability to overcome it,” King Salman said.
The G20 expressed gratitude to medical workers fighting the virus, and its sadness at the suffering and loss of life.
A further meeting of G20 health and finance ministers will take place in the next few weeks to implement some of the commitments put in place on Thursday, including concerted actions tackle pandemics on a global scale.
The Chinese Ambassador to Saudi Arabia, Chen Weiqing, said the virtual meeting was “an extraordinary summit at a crucial moment.” The G20 also praised the decision to delay the Tokyo Olympic Games and pledged they would take place in Japan no later than next summer “in their complete form as a symbol of human resilience.”
INSIDE
•
Turks fear losing jobs
•
UAE disinfection drive
•
Lebanon under lockdown
•
Filipinos demand fairness
•
Oil demand slumps
•
Cost of contagion
•
Post-pandemic world
•
The poor struggle in India
•
Banks to close branches