Finance ministers and central bankers from the world’s 20 largest economies agreed Monday to develop an action plan to respond to the COVID-19 pandemic, which the IMF now expects to trigger a global recession, but disclosed no specifics.
The G20 secretariat issued the statement after an almost two-hour video conference between finance officials, amid growing criticism that the world’s “fire station” has been slow to respond to the worsening crisis.
G20 leaders are due to gather for an extraordinary virtual summit in coming days as the world races to contain the virus, which has infected 370,000 globally and killed over 16,000.