G20 countries will give $5,000 billion to save the global economy, the announcement
Riyadh: At a video meeting of the world’s richest countries “G20” yesterday, it was decided to spend $5,000 billion to save the world economy.
The meeting, which lasted 90 minutes under the leadership of Saudi Arabia, decided to do everything possible to cope with the global outbreak of “Covid 19“.
The joint declaration issued by the G20 after the meeting said that the money would be used in the timely and uninterrupted availability of medical equipment and medicines, as well as the global economy.
The Joint Declaration also calls on the World Monetary Fund and the World Bank to double their existing aid fund to $50 billion for developing countries.
According to news agencies, this is the second time since the global economic crisis that began in 2008, when the world’s richest countries have shown solidarity to this extent.
It should be noted that this announcement of $5,000 billion from the G20 countries is just a statement because the cost and time frame for this amount have not been set.