G20 to inject $5 trillion into global economy to fight coronavirus consequences

The leaders pledged to continue to conduct bold and large-scale fiscal support

© EPA-EFE/DAVID CROSLING

MOSCOW, March 26. /TASS/. The Group of Twenty (G20) will invest over $5 trillion into the global economy to overcome financial consequences of the coronavirus pandemic, leaders of G20 member-states say in a joint statement after the extraordinary summit.

“We are currently undertaking immediate and vigorous measures to support our economies,” the statement says. “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,” the leaders say.

“We will continue to conduct bold and large-scale fiscal support. Collective G20 action will amplify its impact, ensure coherence, and harness synergies. 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,” heads of G20 member-states added in the statement.

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About Cholo Brooks 12559 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.