Scott Morrison is told he needs a ‘war plan’ to tackle the corona virus pandemic at the G20 ‘Zoom’ summit as Australia prepares for more incentives and offers to take the Pacific countries through the to help crisis
- Prime Minister Scott Morrison attended a ‘Zoom’ summit with G20 countries
- The leaders made an agreement to coordinate efforts to address the coronavirus crisis
- The virtual summit was organized by Saudi Arabia, which will chair the forum this year
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Australia and other G20 countries have signed a deal to coordinate efforts to tackle the corona virus pandemic, jointly pledging $ 7.5 billion to kick-start the global economy.
Prime Minister Scott Morrison made a video connection to US President Donald Trump and other G20 members at night.
The virtual summit was convened by Saudi Arabia, which will chair the forum this year.
Prime Minister Scott Morrison attends a video conference with G20 leaders to discuss COVID-19
Australia and other G20 countries have signed a deal to coordinate efforts to tackle the corona virus pandemic, jointly pledging $ 7.5 billion to kick-start the global economy
In a communiqué after the meeting, Mr. Morrison and other leaders described the pandemic as “a powerful reminder of our interconnectedness and vulnerabilities.”
“This virus has no borders,” they said.
“Fighting this pandemic requires a transparent, robust, coordinated, large-scale and science-based global response in a spirit of solidarity.”
G20 finance, health and trade ministers will meet in the coming weeks to develop specific action plans to address economic and health impacts.
China agreed to increase its supply of pharmaceutical ingredients and other supplies to the international market, in a move that will reduce deficits in many countries.
UN Secretary General Antonio Guterres told leaders they needed a wartime plan.
Prime Minister Scott Morrison joined via video link at night to US President Donald Trump and other members of the G20
Mr Morrison is seen on screen during a video conference with G20 leaders
“It took the world three months to reach 100,000 confirmed cases of infection,” he said.
The next 100,000 happened in just 12 days. The third lasted four days. The fourth, only one and a half.
“This is exponential growth and just the tip of the iceberg.”
The meeting was not open to the media, but some leadership statements were made.
Russian President Vladimir Putin proposed to set up a special fund under the IMF that would provide interest-free loans, and stressed the need to create “green corridors” for free movement of stocks and technologies intended to provide tackle epidemics.
In a post-meeting communiqué, Mr. Morrison and other leaders described the pandemic as “a powerful reminder of our interconnectedness and vulnerabilities.”
He also proposed a moratorium on essential goods sanctions.
International Monetary Fund director Kristalina Georgieva asked G20 leaders for their support to double the emergency financing capacity of $ 50 billion ($ A84 billion).
She said vulnerable households and businesses need targeted financial support to keep their heads above water and get back to work quickly.
The latest statement promised “bold and large-scale fiscal support.”
“We are committed to doing whatever it takes and using all available policy tools to minimize the economic and social damage caused by the pandemic, restore global growth, maintain market stability and strengthen resilience.”
G20 TAKES ACTION ON CORONAVIRUS
* Prime Minister Scott Morrison and other G20 leaders met via video conference overnight.
* Members cooperate with WHO, IMF, World Bank, UN and other organizations.
* $ 7.5 billion is being injected into the global economy to counter the social, economic and financial consequences.
* The main objectives are: protecting lives; securing jobs and incomes; restore confidence, maintain financial stability, revive growth and restore stronger; minimize disruption to trade and supply chains; help countries that need help; coordinate in the field of public health and financial measures.
* Promises to share information, exchange clinical data and share materials for research and development.
* Plans to increase production and ensure that medical supplies are available on an equitable basis at affordable prices.
* Ministers of Health and Finance to develop a series of urgent actions and to hold a joint meeting in the coming weeks.
* Encouraged donations to global funds such as the WHO Covid-10 Solidarity Response Fund.
* The International Labor Organization and the OECD are charged with monitoring the impact on jobs.
* Trade ministers to assess the impact on trade and work to ensure the flow of vital medical supplies and other goods and services.
* Serious concerns about the ability of some African and small island states to deal with the pandemic. Financial and medical support is used to help.
* Support Japan’s decision to postpone the Olympic Games until summer 2021 at the latest.
SOURCE: AUSTRALIAN ASSOCIATED PRESS