Global leaders urge G20 to combat coronavirus-related crises

A group of 165 global leaders has called for immediate and coordinated international action to tackle the twin health and economic emergencies caused by the Covid-19 pandemic.

Amid concerns that the fight against Covid-19 is being hampered by a lack of united action by the body that represents leading developed and developing nations, the global leaders said on April 7 that $8bn of emergency health funding should be approved to prevent a second wave of infection. They warned the G20 that the virus will return unless urgent action is taken to bolster health systems in poor countries of Africa and Latin America.

A letter from the group urged the G20 to set up a taskforce with executive powers to help coordinate the fight against Covid-19. It called for debt relief for the poorest countries and an increase in the funds available to the International Monetary Fund and the World Bank.

The letter was signed by, among others, former UN Secretary-General Ban Ki-moon, 92 former presidents and prime ministers, including former UK prime ministers Tony Blair, Gordon Brown and John Major and former Irish President Mary Robinson, current prime ministers of Ethiopia and Bangladesh, president of Sierra Leone, stock market investor George Soros, former US Secretary of the Treasury Lawrence Summers, former chief economist of the World Bank Kaushik Basu.

The letter said that in addition to the $8bn of emergency health spending, developing countries would need $150bn to fight the twin medical and economic challenges.

As of April 7, globally, coronavirus has infected over 1.36 million people and killed at least 76,500, according to worldometers.info.

(PAP)