March 26, 2020
The extraordinary G20 Summit was a culmination of the Finance Ministers and Central Bank Governors Meeting and G20 Sherpas Meeting on the COVID-19 pandemic
G20 leaders supported boosting the WHO’s mandate in the fight against pandemics, including the delivery of medical supplies, diagnostic tools, treatments
COVID-19 has claimed around 42,000 lives between December 2019 and March 2020. Over 860,000 people have contracted the disease in over 180 countries
G20 countries have committed to injecting more than US$5 trillion into the global economy to counter the social and economic impact of COVID-19
Prime Minister Shri Narendra Modi attended a Virtual G20 Leaders’ Summit on March 26 to discuss the challenges posed by the pandemic of the Coronavirus disease (COVID-19) and to forge an international coordinated response. The extraordinary G20 Summit was a culmination of the Finance Ministers and Central Bank Governors Meeting and G20 Sherpas Meeting on the COVID-19 pandemic. At the meeting, G20 Leaders agreed to take all necessary measures to contain the pandemic and protect people. They also supported the strengthening of the WHO’s mandate in the fight against pandemics, including the delivery of medical supplies, diagnostic tools, treatments, medicines, and vaccines.
The Government of India has taken preemptive steps to contain the spread of the Coronavirus disease (COVID-19). India had put in place a comprehensive response system at its borders much before WHO declared it as a public health emergency of international concern on January 30. COVID-19 has claimed around 42,000 lives between December 2019 and March 2020. More than 860,000 people have contracted the disease in over 180 countries. With a cure believed to be 12-18 months away, the impact of the disease is expected to spread rapidly. This health crisis has disrupted human and goods traffic globally and is expected to cost the global economy more than US$1 trillion in 2020.
At the summit, leaders committed to using all available policy tools to minimise the economic and social cost of the pandemic and to restore global growth, market stability, and strengthening resilience. G20 countries committed to injecting over US$5 trillion into the global economy to counter the social and economic impact of COVID-19. Leaders also agreed to contribute to the WHO-led COVID-19 Solidarity Response Fund voluntarily. In his remarks, PM Modi noted the social and economic cost of the pandemic, He added that 90 per cent of the COVID-19 cases and 88 per cent of deaths were in G20 countries even as they share 80 per cent of world GDP and 60 per cent of the world population.
At the end of the Summit, a G20 Leaders’ Statement was issued which called for a coordinated global response to fight the pandemic, adopting measures to safeguard the global economy, minimising trade disruption and steps to enhance global cooperation.