G20 leaders to inject US$5 trillion into global economy to fight coronavirus


Saudi King Salman bin Abdulaziz speaks via video link during a virtual G20 summit on coronavirus disease (COVID-19), in Riyadh, Saudi Arabia March 26, 2020. - reuters

RIYADH: Leaders of the Group of 20 major economies pledged on Thursday to inject US$5 trillion (4.1 trillion pounds) in fiscal spending into the global economy to blunt the economic impact of the coronavirus and "do whatever it takes to overcome the pandemic."

Showing more unity than at any time since the 2008-2009 financial crisis that led to the G20's creation, the leaders said they committed during a videoconference summit to implement and fund all necessary health measures needed to stop the virus' spread.

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