Coronavirus: G20 leaders to inject $5trn into global economy

The leaders of the world’s 20 largest economies (G20) promised to inject more than $5 trillion into the global economy, as part of their coordinated response to the coronavirus pandemic.

“We are injecting more than 5 trillion dollars into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to counteract the social.

“Others are economic and financial impacts of the pandemic,” read the statement released after the conclusion of the virtual meeting led by Saudi Arabia.

READ ALSO: COVID-19: FIRS unveils automated tax system to boost revenue collection

Finance ministers and central bank governors of the G20 countries will coordinate and work closely with international organisations to develop and deliver “appropriate international financial assistance.”

The leaders also plan to expand manufacturing capacity to meet the increasing needs for medical supplies amid the novel coronavirus outbreak.

(dpa/NAN)