WORLD, March 27 (CGTN) - Leaders of the Group of 20 (G20) major economies committed to inject over five trillion U.S. dollars into the global economy as part of economic measures to counteract the impacts of the COVID-19 pandemic.
"We are currently undertaking immediate and vigorous measures to support economies, protect workers, businesses — especially micro-, small and medium-sized enterprises—and the sectors most affected," the G20 statement said, after the video conference on Thursday.
Manufacturing capacity will be expanded to meet the increasing needs for medical supplies, which will be made widely available at an affordable price on an equitable basis, according to the statement.
G20 leaders also agree to ensure the flow of vital medical supplies, critical agricultural products and other goods and services across borders. They will work jointly to resolve disruptions to the global supply chains.
G20 finance ministers and central bank governors will coordinate regularly, and develop a set of G20 urgent actions in the joint fight against the pandemic by their ministerial meeting in April, the statement outlined.
Central banks of G20 nations have acted to promote financial stability and enhance liquidity in global markets, and have undertaken the extension of swap lines, according to the statement.
The International Labour Organization and the Organization for Economic Cooperation and Development will monitor the pandemic's impact on employment as well, the statement said.