Saudi Arabia earlier this month pledged $500 million to support global efforts to combat the coronavirus pandemic. In the statement, it repeated its call on all countries, non-governmental organizations, philanthropists and the private sector to help close the financing gap.
Russian President Vladimir Putin, US President Donald Trump and Saudi Arabia's King Salman, discussed the OPEC+ oil group meeting in a phone call on Friday and confirmed their aim was to stabilise the global oil trade, the Kremlin said.
A recent open letter to the G20 leaders – an initiative coordinated by Gordon Brown – underlined the extreme urgency of planning a response to the impact of COVID-19 on nations in the developing world. Limited infrastructure, inadequate healthcare, urban overcrowding and various other factors will undoubtedly increase the death toll from the coronavirus in such circumstances.
G20 finance ministers and central bankers agreed during a separate video conference on Monday to develop an "action plan" to respond to the outbreak, which the International Monetary Fund expects will trigger a global recession.
The premier lauded the debt relief measures after Finance Advisor Dr Abdul Hafeez Sheikh called him and informed him about the planned approval of an additional $1.4 billion concessionary financing from IMF to deal with the economic impact of coronavirus.
Finance officials from the Group of 20 countries on Saturday called for wide participation by bilateral creditors to implement a debt freeze initiative for the world’s poorest countries.
With the disease tearing around the globe and three billion people locked down, countries are desperate to find ways to stop its terrifying spread and deal with a shock that could surpass the Great Depression.
The Group of 20 countries vowed to accelerate aid amid concerns that an already precarious humanitarian and financial situation will grow catastrophic over the winter.
In an interview with France Inter radio station broadcast on Tuesday, Macron said those conditions must include equality for women, access for foreign humanitarian operations and non-cooperation with Islamist terror groups.
Half the Afghan children under age five are at risk of acute malnutrition and there is an outbreak of measles in every single province which is "a red light” and "the canary in the mine” for what’s happening in society, he said.