G20 summit outcomes encouraging

A comprehensive range of measures was offered to overcome the crisis

The first ever G20 virtual summit outcomes are encouraging, RISS expert Mikhail Belyaev believes. He drew attention to the fact that during the online meet-up, a comprehensive range of measures had been offered to overcome the crisis caused by the pandemic.

He added that the summit results were somewhat unexpected as it had been assumed that the meeting participants would just discuss the probability to join forces against the coronavirus outbreak. According to Mikhail Belyaev, everyone had been sure that the forum participants would be so busy with their own problems that the needs of other countries would come second. The most valuable idea of the G20 summit final communique is to develop a unified consolidated policy at the ministerial level aimed at ending the epidemic globally through joint coordinated efforts.

In addition, the World Health Organization (WHO) will increase its capabilities. According to the expert, this would make the WHO more effective. It was also decided that the WHO, the IMF, the World Bank, and the UN will join forces to fight the epidemic. A very significant decision of the summit is the Declaration on the creation of "green corridors" for free movement of supplies and technologies intended to deal with the epidemic.

"Countries are doing their best to overcome the coronavirus pandemic. We need to prevent an upcoming economic crisis," Belyaev said. The leadership of some countries will also provide the WHO with funds to combat the coronavirus. Russia has decided to allocate 1.2% of GDP for battling the epidemic.

"The cause-roots of today’s economic crisis are associated with the medical field. First of all, we need to solve the problem of the coronavirus spreading. Fortunately, Russia is taking the right steps and this will definitely lead to success," RISS expert concluded.

coronavirus G20