Trump said the leaders discussed “how vitally important it is for all of our nations to immediately share information and data” during a video conference earlier Thursday chaired by Saudi Arabia, which is hosting the G-20 this year. The U.S. has had more than 80,000 cases of the disease as of Thursday, about a 20% increase in 24 hours, while China has reported nearly 82,000, according to Johns Hopkins University.
The G-20 leaders said they were injecting over $5 trillion into the global
The gathering was joined by leaders from member countries and included representatives of international organizations such as the United Nations. Coordination among G-20 countries was instrumental for action to stabilize the global economy during the financial crisis that started in 2008.
“We will continue to conduct bold and large-scale fiscal support,” the leaders said. “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.”
In a statement after the video call, Indonesian President
“G-20 must actively lead efforts to find anti-virus and Covid-19 drugs,” he said. At the same time, “we must prevent a global economic recession, through coordinated fiscal and monetary policies, and expand and strengthen social safety nets.”
The joint statement made no mention of the oil shock triggered by the price war between Saudi Arabia and Russia. The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after crude prices crashed to their lowest levels in almost two decades.
Secretary of State
Containing the Outbreak
With parts of Europe and the U.S. in the grip of the outbreak, governments across the world are desperately trying to acquire and stockpile critical medical supplies such as masks, ventilators and gowns as frontline doctors and nurses face shortages. That’s forcing many of the biggest makers to run factories around the clock to meet demand.
In a press release on Thursday, British Prime Minister
The G-20 leaders also pledged more manufacturing and investment to meet the needs for medical supplies and ensure their availability “at an affordable price, on an equitable basis, where they are most needed and as quickly as possible.”
“We commit to strengthen national, regional, and global capacities to respond to potential infectious disease outbreaks by substantially increasing our epidemic preparedness spending,” they said.
The World Health Organization was also asked to cooperate with relevant organizations to assess gaps in pandemic preparedness and make a report in the coming months to a joint meeting of finance and health ministers.
“This initiative will capitalize on existing programs to align priorities in global preparedness and act as a universal, efficient, sustained funding and coordination platform to accelerate the development and delivery of vaccines, diagnostics and treatments,” the statement said.
The G-20 highlighted the threats faced by countries in the developing world -- especially in Africa and small island nations -- whose health systems and economies might struggle to contain the outbreak. It also drew attention to the risks faced by refugees and displaced persons.
“We consider that consolidating Africa’s health defense is a key for the resilience of global health,” the leaders said.
--With assistance from
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