Budget and monetary response to "unprecedented" Covid

(ANSA) - ROME, JULY 18 - The G20 expects a "sharp contraction" of global economic activity in 2020, with "highly uncertain prospects and subject to high risk alribasso". This is stated in the final G20 statement of the ministries of finance and governors, today in virtual meeting under the Saudi presidency. The G20 is committed to "immediate and exceptional measures" against the pandemic and its health, social and economic implications, including "budgetary, monetary and financial stability actions".
   The G20 is also studying an extension of the freezing of the most needy and affected by Covid countries in the second half of the year, and in the meantime encourages bilateral creditors, multilateral development banks and other actors to take action so far agreed to meet the beneficiaries of the agreement, so far 42 countries for a total debt of 5.3 billion dollars. "We will consider - reads the final statement - a possible extension of the Initiative for the suspension of debt payments (DSI) in the second half of 2020, taking into account the developments of the pandemic and the observations of the IMF and the World Bank on the liquidity needs of the countries". (HANDLE).