The G20 gathering in the Italian city of Venice was the ministers' first face-to-face meeting since the start of the pandemic. Decisions include the endorsement of new rules aimed at stopping multinationals shifting profits to low-tax havens.
"The recovery is characterised by great divergences across and within countries and remains exposed to downside risks, in particular the spread of new variants of the COVID-19 virus and different paces of vaccination," it read. The communique, while stressing support for "equitable global sharing" of vaccines, did not propose concrete measures, merely acknowledging a recommendation for $50 billion in new vaccine financing by the International Monetary Fund, World Bank, World Health Organization and World Trade Organization.
Brandon Locke, of the public health non-profit group ONE Campaign, decried what he described as the G20's inaction, calling it "a lose-lose situation for everyone." "We must agree on a process for everyone on the planet to be able to access vaccines. If we don't, the IMF predicts that the global economy will lose $9 trillion," religious development organization Jubilee USA Network said.
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