Share

Finance ministers and governors of central banks of the G20 member states have agreed to deliver a roadmap to address the debt burden of low-income countries and deliver aid to emerging markets in response to the coronavirus COVID-19 crisis.

Following a virtual meeting on Tuesday 31 March 2019, hosted by Saudi Arabia, the officials announced that the G2o will inject $5 trillion into the global economy to combat the effects of the anticipated recession as a result of the pandemic.

They also discussed the role of the International Monetary Fund (IMF), the World Bank and other international financial institutions to make resources available and explore measures to support emerging markets and developing economies.   The additional measures aim to support financial stability and alleviate liquidity constraints. 

The G20 finance ministers and central bank governors  welcomed the World Bank Group’s $160 billion relief package to be deployed over the next 15 months to support its member countries to respond to the crisis.

The next virtual meeting is scheduled for April 15.

 

Related Post
Need To Tackle Impact of Likely Electric Car Battery Production Boom: UN

Demand for raw materials used in the production of electric car batteries is set to soar, prompting the UN trade Read more

Sustainable Innovation in Plastics and Packaging

As the perception of plastic has shifted from a wonder material to a public scourge, the forces of opportunity present Read more

Community Health Workers Matter More Now

By Jessica Daly, Director of Medtronics Foundation Source: Devex As the world races to halt the spread and impact of COVID-19, Read more

Share
Show Comments

Leave a Reply

Your email address will not be published. Required fields are marked *