G7 Leaders Pledge Continued Fiscal Support to Economies in Covid Recovery

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“We will continue to support our economies to protect jobs and incentivize a strong, sustainable, balanced and inclusive recovery,” the G7 said in a statement released after the call, hosted by UK Prime Minister Boris Johnson.

In the discussion, where US President Joe Biden debuted as a leader on the world stage, the G7 pledged to consider debt relief for developing countries and pledged to eliminate net carbon emissions by 2050 at the latest.

They also highlighted the importance of multilateralism, a sign that the group wanted to leave the era of Donald Trump behind. The group agreed to strengthen the World Health Organization (WHO), a body that the previous US Administration had rebuked and abandoned.

“Building on our strengths and values ​​as open and democratic economies and societies, we will work together and with others to make 2021 a turning point for multilateralism and to shape a recovery that promotes the health and prosperity of our people and our planet. ”Said the leaders in their statement. “We will intensify cooperation in the health response to covid-19.”

The leaders will meet in person in Cornwall, southwest England, in June.

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