G20 leaders said Thursday that their countries pledged $5 trillion to battle the spreading coronavirus pandemic, calling it their “absolute priority” to tackle its health, social and economic impacts.
During a video conference of the world’s major economies, the leaders said they were committed to restoring confidence, preserving financial stability and reviving growth.
“We are injecting over US $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 said in a statement after an emergency online summit, France 24 reported.
The leaders said they were committed to resolving disruptions to global supply chains and asked finance ministers and central bank governors to coordinate regularly together and with international organizations to develop an action plan in response to the pandemic.
They also pledged to work swiftly with multilateral bodies, such as the International Monetary Fund, the World Health Organization and