G-20 warns of sharp global growth contraction due to pandemic

Finance chiefs from the Group of 20 major economies said Sunday that the global economy is expected to "contract sharply" this year due to the new coronavirus pandemic and pledged to do whatever they can to minimize downside risks."We are determined to continue to use all available policy tools to safeguard people's lives, jobs and incomes, support global economic recovery, and enhance the resilience of the financial system," although the economic outlook "remains highly uncertain," they said in a statement issued after a videoconference.As for the G-20's debt relief program to help curb th…READ FULL ARTICLE