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G20 Pledges $5 Trillion Stimulus Package

g20 march27 lt

G-20 nations announced a $5 trillion stimulus package to spur global economic recovery from the effects of coronavirus.

The Extraordinary G20 Leaders' Summit was held though conference call Thursday.

"We are injecting 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," the leaders said in a statement.

They urged Finance Ministers and Central Bank Governors of the G20 member states to coordinate on a regular basis to develop an action plan in response to COVID-19 and work closely with international organizations to swiftly deliver international financial assistance.

The Summit pledged to work to ensure the flow of vital medical supplies, critical agricultural products, and other goods and services across borders, and work to resolve disruptions to the global supply chains.

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