In the communique last night, the leaders said “we consider that consolidating Africa's health defense is a key for the resilience of global health.” This means part of that money pledged will be spent in poorer countries to strengthen capacity to deal with the virus.
A view of the screen showing the extraordinary Virtual Leaders’ Summit of the Group of Twenty (G-20) on the Covid-19 Pandemic.
Leaders of the 19 most industrialized countries (G20) have
announced they will inject at least USD 5 trillion into the global economy to counteract the
impacts of the COVID-19 pandemic.
They will also expand manufacturing capacity to meet the huge and increasing demand for medical supplies, which will be made available at an affordable price and in the shortest possible time, the leading economic powers pledged in a virtual summit held last night.
It is not yet clear who exactly will receive money, but the
leaders said the money will be part of targeted fiscal policy, economic
measures, and guarantee schemes to counteract the social, economic and
financial impacts of the pandemic.
The G20 countries include Argentina,
Australia, Brazil, Canada, China, Germany, France, UK, USA, and South Korea. They said they were concerned with the serious risks posed to all countries,
particularly developing and least developed countries.
include in Africa and small island states, where health systems and economies are
less able to cope with the challenge.
communique last night, the leaders said “we consider that consolidating
Africa's health defence is key to the resilience of global health.” This
means part of that money pledged will be spent in poorer countries to strengthen
capacity to deal with the virus.
The communique committed to ensuring
cross-border flow of vital medical supplies, agricultural products and other
goods and services. Some countries have been withholding export permits of
medicines or masks.
The G20, however, was mute on the
World Bank and International Monetary Fund request that they consider
suspending debt repayments by poorer nations. This would give countries like Uganda
more resources to deal with the pandemic.