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G20 countries allocate $11trn to counter coronavirus economic impact

G20 countries allocate $11trn to counter coronavirus economic impact
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Riyadh – Mubasher: Saudi Arabia's Minister of Investment, Khalid al-Falih, said the kingdom’s hosting of the G20 Leaders' Summit is a firm indication of the importance of its global leadership role, state-run Saudi Press Agency (SPA) reported on Thursday.

He said the group's countries have allocated $11 trillion to protect and support the global economy from the repercussions of the coronavirus pandemic, highlighting the historic initiative to suspend $14 billion worth of debts owed by 73 countries around the world.

Moreover, he noted that the G20 Trade and Investment Working Group has addressed urgent global trade issues, including the launch of the Riyadh Initiative on the future of the World Trade Organization (WTO).   

He added that the G20 countries participated in services with the aim to contribute to economic diversification and enhance economic empowerment for all, including youth and women.