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G20 leaders throw $5 trillion at coronavirus pandemic

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G20 leaders Thursday agreed they would inject $5 trillion into the global economy to counter the impact of the coronavirus crisis.

They also pledged a “united front” in the fight against the pandemic, after an emergency online summit, chaired by King Salman of Saudi Arabia.

“Combatting this pandemic calls for a transparent, robust, coordinated, large-scale and science-based global response in the spirit of solidarity,” the leaders said in a statement.

“We are strongly committed to presenting a united front against this common threat.

“The magnitude and scope of this response will get the global economy back on its feet and set a strong basis for the protection of jobs and the recovery of growth,” the statement said.

Meanwhile, the International Monetary Fund and World Bank urged the G20 to support its call for governments to put debt payments on hold.

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