G7 pledge to use all their tools to safeguard economy affected by COVID-19

Leaders of the G7 advanced economies have pledged to use all their tools to safeguard the economy and help workers hurt by the coronavirus pandemic. As the outbreak caused more countries to shut down and brought the global economy to a screeching halt, the leaders stressed the need to join forces and move quickly to address the damage.

The G7 leaders said in a statement following an emergency video conference that the Group resolve to



coordinate measures and do whatever it takes, using all policy tools, to achieve strong growth in the G7 economies and to safeguard against downside risks. The measures are aimed to support immediately and as much as necessary the workers, companies, and sectors most affected. The leaders called on global institutions like the International Monetary Fund to "swiftly" deploy financial assistance to the needy countries.