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G-20 pledges US$5 trillion to fight virus

Leaders of G-20 major economies promised to spend more than US$5 trillion to prop up the global economy and hasten recovery from the pandemic.

Saudi Arabia's King Salman speaks by video link at a G-20 summit on March 26, 2020
Saudi Arabia's King Salman speaks by video link at a G-20 summit on March 26, 2020 (AN/Bandar Algaloud)

WASHINGTON (AN) — Leaders of the G-20 major economies met by video conference and promised to spend more than US$5 trillion on Thursday in an effort to prop up the global economy and hasten people's recovery from the worldwide coronavirus pandemic.

The Group of 20 leaders' extraordinary virtual summit was hosted by Saudi Arabia and attended by more than a dozen heads of state. It concluded by saying the governments and central banks from 19 nations and the European Union would boost financial backing for a coronavirus vaccine, push to resume global trade and services quickly and help poorer countries cope with inadequate or straining health systems.

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