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Economy12 hours ago (Nov 21, 2020 06: 06 PM ET)
© Reuters. United Country Secretary General, Antonio Guterres, performs virtual press briefing from his office in New york city ahead of the yearly G20 Summit World Leaders to take place in Riyadh, Saudi Arabia
By Raya Jalabi, Ryan Woo and Andrea Shalal
BEIJING/DUBAI/WASHINGTON (Reuters) – Leaders of the 20 biggest economies on Saturday swore to ensure a reasonable circulation of COVID-19 vaccines, drugs and tests around the world and do what was needed to support poorer countries struggling to recover from the coronavirus pandemic.
PREPARE FOR THE FUTURE
To prepare for future break outs, the EU is proposing a treaty on pandemics.
World Bank President David Malpass alerted the G20 that failing to provide more irreversible financial obligation relief to some countries now could lead to increased hardship and a repeat of the disorderly defaults of the 1980 s.
The G20 financial obligation relief effort has actually helped 46 nations delay $5.7 billion in financial obligation service payments, however that is far short of the 73 nations that were eligible, and guaranteed savings of around $12 billion.
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