{"id":142949,"date":"2020-03-27T01:00:17","date_gmt":"2020-03-27T01:00:17","guid":{"rendered":"https:\/\/www.bnreport.com\/g20-leaders-vow-whatever-it-takes-to-fight-virus-and-rescue-economy\/"},"modified":"2020-03-27T01:00:17","modified_gmt":"2020-03-27T01:00:17","slug":"g20-leaders-vow-whatever-it-takes-to-fight-virus-and-rescue-economy","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/g20-leaders-vow-whatever-it-takes-to-fight-virus-and-rescue-economy\/","title":{"rendered":"G20 leaders vow whatever it takes to fight virus and rescue economy"},"content":{"rendered":"

G20 leaders vowed Thursday to fight the coronavirus crisis with their collective wealth and political might, declaring they are injecting a staggering $5 trillion into the global economy. And thats just a start.<\/p>\n

Following an extraordinary virtual \u201csummit\u201d organized by Saudi Arabia, which currently chairs the club of the worlds top economies, the leaders issued a joint statement urging a coordinated international response \u2014 including the United Nations, the World Health Organization, the International Monetary Fund, and the World Bank \u2014 both to contain the pandemic and to address the accompanying economic shock. And in all respects, they pledged a \u201cwhatever it takes\u201d approach.<\/p>\n

\u201cThe unprecedented COVID-19 pandemic is a powerful reminder of our interconnectedness and vulnerabilities,\u201d the leaders wrote in a joint statement. \u201cThe virus respects no borders. Combatting this pandemic calls for a transparent, robust, coordinated, large-scale and science-based global response in the spirit of solidarity. We are strongly committed to presenting a united front against this common threat.\u201d<\/p>\n

The leaders expressed sadness over the loss of life, and gratitude to frontline health workers. But they also promised concrete measures to meet the practical needs of health systems, and they agreed on carefully-worded language on honesty and transparency in communicating to the public.<\/p>\n

\u201cWe will expand manufacturing capacity to meet the increasing needs for medical supplies and ensure these are made widely available, at an affordable price, on an equitable basis, where they are most needed and as quickly as possible,\u201d the leaders wrote. \u201cWe stress the importance of responsible communication to the public during this global health crisis.\u201d<\/p>\n

They said that health ministers would be tasked with sharing national best practices and developing \u201ca set of G20 urgent actions on jointly combatting the pandemic\u201d with a ministerial meeting on April 19-20 set as their deadline.<\/p>\n

But its far from clear that leaders will be able to live up to their lofty aspirations. The global response to the pandemic so far has been characterized at times by a mix of both solidarity \u2014 with some nations ready to share medical equipment and expertise \u2014 and political missteps and backbiting, including initial secrecy by China at the start of the outbreak, and more recent efforts by the U.S. to label the coronavirus as a Chinese pestilence and to blame Beijing for its spread.<\/p>\n

Spain, which was one of the countries pushing for the G20 to take an active role in coordinating the global response, said that the practical steps were the most important.<\/p>\n

\u201cFor Spain the priorities are to speed up scientific and industrial work to be able to have vaccines at reasonable prices so we prevent vaccination from becoming an unaffordable financial burden for health systems,\u201d a government spokesperson said, adding that Madrid wanted \u201ccoordinated and strong action at the global level\u201d to reassure citizens and markets.<\/p>\n

Italian Prime Minister Giuseppe Conte also called for practical steps.<\/p>\n

\u201cOn the sanitary side, coordination and cooperation should be insured on research, treatments and the supply of medical equipment where it is most needed,\u201d Conte told the other leaders, according to an Italian official.<\/p>\n

However the next weeks play out, the ability to agree a joint statement among leaders marked an initial triumph for Saudi Arabia, which is eager to use its role as chair to restore its diplomatic reputation on the world stage.<\/p>\n

\u201cWe commit to take all necessary health measures and seek to ensure adequate financing to contain the pandemic and protect people, especially the most vulnerable,\u201d the leaders said in their statement.<\/p>\n

In a joint statement following the videoconference, Commision President Ursula von der Leyen and Council President Charles Michel noted that Europe was now the epicenter of the pandemic, thanked their G20 colleagues for support and said the EU was ready to an \u201cinternational pledging event\u201d to insure funding for developing of a COVID-19 vaccine.<\/p>\n

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