Leaders of the world’s 20 largest economies have promised to address the global recession caused by the coronavirus, accelerating a fair and sustainable recovery at the end of the historic G20 summit in Saudi Arabia. Outlined the plan to do.
“We promise to lead the world by shaping a powerful, sustainable, balanced and comprehensive post-COVID-19 era,” G20 leaders announced on Sunday night. Declared in a 12-page document.
Saudi Arabia’s historic G20 Presidency is the first Arab country to be dominated by the need to address the economic and social impact of a pandemic that currently kills more than 1.3 million people worldwide. ..
“The COVID-19 pandemic and its unprecedented impact on lost lives, livelihoods and affected economies reveal vulnerabilities in our readiness and response and highlight our common challenges. It’s an unparalleled shock, “said the final communiqué.
The group said, “We will spare no effort to save lives, provide special focus and support to the most vulnerable people, restore the economy to growth, and on the road to protecting and creating jobs for all. I promised to bring it back. “
The G-20 also mobilizes more resources to meet immediate funding needs to support safe and effective Covid-19 diagnostics, treatments and vaccines research, development, manufacturing and distribution. I promised to do it.
“We will spare no effort to ensure affordable and equitable access to all,” he added, adding that how countries prioritize the deployment of global vaccines, or how much. Does not provide specific details about what you need to spend.
Saudi Arabia’s finance minister, Mohammed al-Jadaan, said at a final press conference in Saudi Arabia, “If a country suffers, we all will suffer.” “All leaders endorsed the G20 initiative to ensure that vaccines and treatments provide sufficient resources to ensure that they are available to everyone.”
G20 leaders promise to address the imbalanced social and economic consequences of the virus, spending an unprecedented $ 11 trillion to accelerate global recovery, medical systems and vaccines at the onset of the crisis Already deployed $ 21 billion to support the hunting of the virus.
“It put the floor under the world economy,” said Al Jadaan. Despite economic activity beginning to rise in some countries, leaders warned that recovery is far from guaranteed.
Leaders acknowledged that “recovery is uneven, highly uncertain and may increase downside risk,” and warns that the outbreak of new viruses in some economies poses significant challenges. did.
The G20 Group has also made progress on debt suspension, with leaders pledged to implement the Debt Repayment Suspension Initiative (DSSI) and even extend it until June 2021. This program allows eligible countries to suspend payment of official bilateral debt repayments.
“This is a big step forward,” said Al Jadaan. So far, the G20 has allowed developing countries $ 14 billion in debt relief, allowing developing countries to allocate more money to fight the virus.
Leaders also said that support for multilateral institutions and the world trade system was “more important than ever” in the clear approval of various trade disputes initiated under the current US administration.
“We strive to achieve our free, fair, inclusive, non-discriminatory, transparent, predictable, stable trade and investment environment goals and keep our markets open.” The leader said. “We will continue to strive to ensure a fair playing field to promote a feasible business environment.”
The G20 also acknowledged the urgent need to end poverty and accelerate efforts to address inequality between the most vulnerable segments of society, including women and adolescents.
The Declaration also stated that all G20 members would continue to support their efforts and utilize all available approaches aimed at “promoting environmental stewardship for future generations.”
G20 leaders promise to “spend their efforts” to ensure fair access to coronavirus vaccines around the world
Source link G20 leaders promise to “spend their efforts” to ensure fair access to coronavirus vaccines around the world