New Delhi: On a day when the leaders of the Group of 20 (G-20) nations are all set to hold a summit through video conferencing to discuss plans to fight the coronavirus pandemic, news reports on Thursday evening surfaced that $5 trillion will be injected into the global economy by G-20 countries to combat COVID-19. Also Read - ‘Looking Forward For Productive Session on Thursday,’ Says PM Modi Ahead of G-20 Virtual Summit
This time, the G-20 virtual summit is being be chaired by Saudi Arabia’s King Salman bin Abdulaziz Al Saud. The prime objective of the summit is to advance a coordinated global response to the COVID-19 pandemic and its human and economic implications.
As per updates, the pandemic which began last year in China has so far infected over 4,14,179 people around the world.
Talking about the impact of the pandemic on economy, IMF Managing Director Kristalina Georgieva has said that the coronavirus has already resulted in major disruption of global supply chains, volatility and large drops in the stock market and could cause a financial crisis.
Ahead of attending the summit, PM Modi said that the G-20 has an important role to play in the fight against coronavirus. He also said that he is looking forward to productive discussions on Thursday at the G20 Virtual Summit.
“The G20 has an important global role to play in addressing the #COVID19 pandemic. I look forward to productive discussions tomorrow at the G20 Virtual Summit, being coordinated by the Saudi G20 Presidency,” he had said.
Apart from India, the other members of G-20 include Argentina, Australia, Brazil, Canada, China, Germany, France, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US, and the European Union.
In the wake of the coronavirus outbreak, a number of world organisations such as United Nations, World Bank, the World Health Organization and the World Trade Organization will take part in the summit.