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FILE - In this June 28, 2019, file photo, President Donald Trump, left, shakes hands with Saudi Arabia's Crown Prince Mohammed bin Salman, as they gather for a group photo at the G-20 summit in Osaka, Japan. The Nov. 21-22, 2020, Group of 20 summit, hosted by Saudi Arabia, will be held online this year because of the coronavirus. The gathering of leaders of the world’s preeminent rich and developing nations will not be an opportunity for kings, presidents and prime ministers to conduct the intimate diplomacy of closed-door meetings or pose for memorable photo-ops. (AP Photo/Susan Walsh, File) (AP)
FILE - In this June 28, 2019, file photo, President Donald Trump, left, shakes hands with Saudi Arabia's Crown Prince Mohammed bin Salman, as they gather for a group photo at the G-20 summit in Osaka, Japan. The Nov. 21-22, 2020, Group of 20 summit, hosted by Saudi Arabia, will be held online this year because of the coronavirus. The gathering of leaders of the world’s preeminent rich and developing nations will not be an opportunity for kings, presidents and prime ministers to conduct the intimate diplomacy of closed-door meetings or pose for memorable photo-ops. (AP Photo/Susan Walsh, File) (AP)

G-20 set to pledge to ensure fair distribution of covid-19 vaccines

  • On medicines and vaccines, the Group of 20 will vow to “spare no effort to ensure their affordable and equitable access for all people

Leaders of the world’s biggest economies on Sunday will dedicate themselves to financing equal access to Covid-19 testing, treatments and vaccines, and will encourage bondholders to provide private relief to poor countries, according to a draft of their statement.

On medicines and vaccines, the Group of 20 will vow to “spare no effort to ensure their affordable and equitable access for all people, consistent with members’ commitments to incentivize innovation," according to the draft obtained by Bloomberg News. “We recognize the role of extensive immunization as a global public good."

The leaders will acknowledge a lack of participation by private creditors in the G-20 debt relief plan, known as the Debt Service Suspension Initiative, and will “strongly encourage" them to participate on comparable terms to official bilateral creditors, according to the draft. It also plans to encourage multilateral development banks to do more to support the initiative, which last month was extended through June. Reuters earlier reported the G-20 plans.

Governments will recognize that debt treatments beyond the initiative may be required on a case-by-case basis given the scale of the crisis, citing the “significant debt vulnerabilities and deteriorating outlook" in many low-income countries. The G-20 will endorse the Common Framework for debt treatments beyond the plan, according to the draft.


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