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The G20 SAYS they will inject $5 trillion into global economy

RIYADH (Reuters) – The Group of 20 major economies will do “whatever it takes” to overcome the coronavirus crisis and said on Thursday they are injecting $5 trillion into the global economy though national measures as part of their efforts to lessen its impact. After an extraordinary summit by video-link, the G20 leaders committed to implement and fund all necessary health measures to protect lives while minimizing economic and social damage, and to avoid unnecessary interference with international trade. They also expressed concern about the risks to fragile countries, notably in Africa, and populations like refugees, acknowledging the need to bolster global financial safety nets and national health systems. “We are strongly committed to presenting a united front against this common threat,” the G20 leaders said in a joint statement following their 90-minute call. Saudi Arabia, the current G20 chair, called the summit amid earlier criticism of the group’s slow response to the disease that has infected more than 470,000 people worldwide, killed more than 21,000, and is expected to trigger a global recession. The G20 leaders confronted growing concerns about possible protectionist measures and insisted markets remain open: “Emergency measures aimed at protecting health will be targeted, proportionate, transparent and temporary. G20 leaders to inject $5 trillion into global economy to fight coronavirus

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