G20 committed over $7 trillion to fight coronavirus

The Group of 20 most powerful nations have injected over $7 trillion into the global economy to protect jobs, businesses, and economies in the face of the coronavirus pandemic, said Saudi Arabian Finance Minister Mohammed al-Jadaan on Wednesday, Report informs, citing Al Arabiya.

G20 finance ministers and central bank governors agreed to a temporary halt to debt payments for the world’s poorest countries in a virtual meeting chaired by Saudi Arabia. Al-Jadaan commented that this debt suspension would be significant and provide north of $20 billion in immediate liquidity.

The minister noted that the G20 is committed to safeguarding jobs and incomes while ensuring the resilience of global financial systems, and is determined to spare no effort individually or collectively to overcome the coronavirus pandemic.