A joint statement by leaders outlines measures to combat the spread of the disease and minimize economic risks
Leaders of the G7 countries issued a joint statement on the fight against the new coronavirus. The statement notes that the COVID-19 pandemic is “a human tragedy and global health crisis, which also poses serious risks to the global economy.”
“We are committed to doing everything necessary to ensure a decisive international response through closer cooperation and enhanced coordination of efforts,” G7 leaders said. – While current challenges may require emergency measures at the national level, we remain committed to the stability of the global economy. We are convinced that the challenges posed by the COVID-19 pandemic require a carefully coordinated international science-based approach that is consistent with our democratic values and harnesses the strengths of the private sector. ”
The leaders agreed to use the full power of their states to coordinate the necessary measures in the field of healthcare, restore confidence and growth, protect jobs, support international trade and investment, stimulate cooperation in science, research and technology.
“Together, we will work to minimize the risks in the healthcare and economic sectors associated with the COVID-19 pandemic and create the conditions for restoring strong and stable economic growth and prosperity,” the G7 leaders said.
The authors of the statement promise to coordinate efforts to slow down the spread of the virus, including through the adoption of appropriate border control measures.
G-7 leaders also noted that they fully support the efforts of the World Health Organization and called on all countries, international organizations and the private sector to contribute to international efforts to combat the disease.
The statement also emphasizes the importance of timely dissemination of information and the collection of epidemiological and other data. For this, in particular, it is planned to use online platforms.
G7 leaders promise to support collaborative research projects and efforts to develop, manufacture and distribute drugs and vaccines for the new coronavirus.
G7 leaders also intend to mobilize the full range of tools to support the economy and minimize economic risks and losses, which is especially important for small and medium-sized businesses.
“We will also instruct our central banks to continue coordination efforts to ensure that appropriate monetary measures are taken to maintain economic and financial stability and ensure recovery and growth,” the statement said.
The finance ministers will be tasked with interacting with each other on a weekly basis to ensure the implementation of these decisions and to develop further effective and timely measures.
The authors of the statement also call on the International Monetary Fund, the World Bank and other international organizations to provide further support to countries around the world as part of a coordinated international approach. Ministers of finance will be tasked with working closely with international organizations in developing financial assistance, including to developing countries.
“We are committed to not only restoring the level of growth that was expected before the COVID-19 pandemic, but also laying the foundation for more confident growth in the future,” the G-7 leaders assured, urging the G-20 countries to support these efforts.