In a video conference chaired by Saudi Arabia’s King Salman the G-20 nations said they would collectively spend more than $5 trillion trying to insulate the global economy from the impact of the coronavirus pandemic and help speed a recovery.
As concerns mount for poorer countries without access to capital markets or adequate health facilities, G20 leaders also pledged to work with bodies such as the International Monetary Fund to deploy a “robust” financial package to support developing nations.
“It is our responsibility to extend a helping hand to developing countries and [the] least developed countries to enable them to build their capacities and improve their infrastructure to overcome this crisis and its repercussions,” King Salman said.
