G20 Pledges To Inject Over $5 Trillion Into Global Economy To Offset Damage By COVID-19

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G20 Pledges to Inject Over $5 Trillion Into Global Economy to Offset Damage by COVID-19

The leaders of G20 countries on Thursday pledged to inject more than $5 trillion into the global economy to offset the economic and social consequences of the COVID-19 pandemic

MOSCOW (UrduPoint News / Sputnik - 26th March, 2020) The leaders of G20 countries on Thursday pledged to inject more than $5 trillion into the global economy to offset the economic and social consequences of the COVID-19 pandemic.

"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 said in a joint statement.

They also have requested their finance ministers and heads of their central banks to come up with a G20 plan against the outbreak.

"We ask our Finance Ministers and Central Bank Governors to coordinate on a regular basis to develop a G20 action plan in response to COVID-19 and work closely with international organizations to swiftly deliver the appropriate international financial assistance," they added.

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