The unprecedented COVID-19 pandemic is a powerful reminder of our interconnectedness and vulnerabilities. The 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. Tackling the pandemic and its intertwined health, social and economic impacts is our absolute priority. We express our gratitude and support to all frontline health workers as we continue to fight the pandemic.”
The G20 is committed to do whatever it takes to overcome the pandemic, along with the World Health Organization (WHO), International Monetary Fund (IMF), World Bank Group (WBG), United Nations (UN), and other international organizations, working within their existing mandates.
G20 Leaders are determined to spare no effort, both individually and collectively, to:
- Protect lives.
- Safeguard people’s jobs and incomes.
- Restore confidence, preserve financial stability, revive growth and recover stronger.
- Minimize disruptions to trade and global supply chains.
- Provide help to all countries in need of assistance.
- Coordinate on public health and financial measures.
Fighting the Pandemic
G20 Leaders commit to take all necessary health measures and seek to:
- Ensure adequate financing to contain the pandemic and protect people, especially the most vulnerable.
- Share timely and transparent information; exchange epidemiological and clinical data; share materials necessary for research and development; and strengthen health systems globally.
- 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.
- Fully support and commit to further strengthen the WHO’s mandate in coordinating the international fight against the pandemic, including the protection of front-line health workers, delivery of medical supplies, especially diagnostic tools, treatments, medicines, and vaccines.
- Further commit to provide immediate resources to the WHO’s COVID-19 Solidarity Response Fund, the Coalition for Epidemic Preparedness and Innovation (CEPI) and Gavi, the Vaccine Alliance, on a voluntary basis. T
- Safeguard the future, commit to strengthen national, regional, and global capacities to respond to potential infectious disease outbreaks by substantially increasing our epidemic preparedness spending.
Safeguarding the Global Economy
The G20 Leaders commit to:
- Do whatever it takes and to use all available policy tools to minimize the economic and social damage from the pandemic, restore global growth, maintain market stability, and strengthen resilience.
- Support economies; protect workers, businesses—especially micro-, small and medium-sized enterprises—and the sectors most affected; and shield the vulnerable through adequate social protection.
- Inject over $5 trillion into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to counteract the social, economic and financial impacts of the pandemic.
- Ask Finance Ministers and Central Bank Governors to coordinate on a regular basis to develop a G20 action plan in response to COVID-19 and work closely with international organizations to swiftly deliver the appropriate international financial assistance.
Addressing International Trade Disruptions
Consistent with the needs of citizens, G20 Leaders will work to:
- Ensure the flow of vital medical supplies, critical agricultural products, and other goods and services across borders.
- Commit to continue working together to facilitate international trade and coordinate responses in ways that avoid unnecessary interference with international traffic and trade.
- Reiterate the goal to realize a free, fair, non-discriminatory, transparent, predictable and stable trade and investment environment, and to keep our markets open.
Enhancing Global Cooperation
G20 Leaders will work swiftly and decisively with the front-line international organizations, notably the WHO, IMF, WBG, and multilateral and regional development banks to deploy a robust, coherent, coordinated, and rapid financial package and to address any gaps in their toolkit.
“We call upon all these organizations to further step up coordination of their actions, including with the private sector, to support emerging and developing countries facing the health, economic, and social shocks ofCOVID-19.”
At the end of the virtual Summit, G20 leaders expressed their readiness to convene again as the situation requires.
“Global action, solidarity and international cooperation are more than ever necessary to address this pandemic. We are confident that, working closely together, we will overcome this. We will protect human life, restore global economic stability, and layout solid foundations for strong, sustainable, balanced and inclusive growth.”
Original source: G20
Published on 26 March 2020
