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G-20 to inject over $5 trillion into global economy

26 Mar 2020
“The G-20 countries should display their real strength to overcome the situation as they did during the global financial crisis of 2008,” Abe said.
“The G-20 countries should display their real strength to overcome the situation as they did during the global financial crisis of 2008,” Abe said.
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Updated 27 Mar 2020
26 Mar 2020

 TOKYO: Leaders from the Group of 20 leading economies on Thursday pledged to work together to combat the coronavirus pandemic.

“We are strongly committed to presenting a united front against this common threat,” the G-20 leaders said in a joint statement issued after an emergency videoconference on the virus.

The leaders said they “further commit to work together to increase research and development funding for vaccines and medicines.”

They said the G-20 countries are injecting over 5 trillion dollars into the global economy to counteract the social, economic and financial impacts of the pandemic. “We will continue to conduct bold and large-scale fiscal support,” they said.

The G-20 leaders said the group is “committed to do whatever it takes to overcome the pandemic,” along with the World Health Organization, the International Monetary Fund and other international organizations.

Japanese Prime Minister Shinzo Abe told his G-20 counterparts that countries should put together their wisdom to accelerate the development of vaccines and treatments.

“The G-20 countries should display their real strength to overcome the situation as they did during the global financial crisis of 2008,” Abe said.

Abe briefed his G-20 counterparts about a one-year postponement of the 2020 Tokyo Olympics and Paralympics amid the pandemic.

The G-20 statement said, “We commend Japan’s determination to host the Olympic and Paralympic Games Tokyo 2020 in their complete form as a symbol of human resilience.”

JIJI Press

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