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business-standard - 9 days ago

G-20 countries to inject $ 5 trillion into global economy to counteract impact of COVID19

The G-20 countries on Thursday pledged to inject over USD 5 trillion into the global economy in a bid to counteract the social, economic, and financial impact of COVID 19 that has impacted people in at least 170 countries and caused over 21,400 deaths. 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 issued after extraordinary G-20 leaders virtual summit said.The leaders said they will continue to conduct bold and large-scale fiscal support and that collective G20 action will amplify its impact, ensure coherence, and harness synergies.They said that 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.The leaders also asked their finance ministers and central bank governors to coordinate on a regular basis .


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