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business-standard - 9 days ago

G20 leaders pledge USD 5 trn, united response to coronavirus crisis

G20 nations pledged a united front on Thursday in the fight against coronavirus, saying they were injecting USD 5 trillion into the global economy to counter the pandemic amid forecasts of a deep recession. US President Donald Trump and Russian President Vladimir Putin joined the emergency videoconference chaired by Saudi Arabia s King Salman, who called for coordinated action while facing pressure to end an oil price war between Riyadh and Moscow that has roiled energy markets. The talks come amid criticism that the G20 has been slow to address the COVID-19 pandemic, which has left more than 21,000 dead worldwide according to official data, and triggered financial shock waves as more than three billion people are locked down. We are strongly committed to presenting a united front against this common threat, the leaders said in a joint statement after the summit. We are injecting over USD 5 trillion into the global economy, as part of targeted fiscal policy, economic measures, ..


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