G20 with a post-pandemic debt relief plan

Leaders of the 20 biggest world economies (G20) will discus this weekend how to deal with the pandemic of  COVID-19 that has caused a global recession and how to manage the recovery once the coronavirus is under control.

Part of the agenda are distribution of vaccines, drugs and tests for low income countries that cannot afford such expenses.

The European Union will urge the G20 on Saturday to invest $4.5 billion for help. The main theme will be to step up global cooperation to address the pandemic.

To prepare for the future, the EU will propose an agreement on pandemics. While the global economy is recovering from the crisis that hit earlier this year, countries with increasing infection rates, the recovery is uneven and the pandemic is likely to leave deep scars.

Especially vulnerable are poor and highly indebted countries in the developing world. More debt relief is needed for these countries.

After Italy takes the presidency of G20 in 221 the debt relief for Africa will be the main theme.

European nations in the G20  will also discus on the climate changes.  The change of U.S. leadership also raises hopes of a more concerted effort at G20 level to fight climate change.