WASHINGTON (Pakistan Point News / Sputnik - 13th October, 2020) The major global economies should cooperate in helping developing countries to recover after the COVID-19 crisis, the Group of 24 (G24) said in a statement on Tuesday.
"We call on the major economies to work together and use all policy tools available to foster a supporting environment to help countries striving to contain the pandemic and restore an inclusive economic growth," the statement read.
Advanced economies should facilitate international trade and investment, and support economic growth and development, it added.
This year, emerging markets face negative GDP growth for the first time in several decades, the G24 noted.
"The pandemic is also exacerbating inequality, with millions of people losing their livelihood and falling into poverty," the group said.
The G24 welcomed Debt Service Suspension Initiative (DSSI), adopted by the G20 to support emerging economies. The group also called for extending DSSI beyond 2020.
