G20 leaders to hold video conference to discuss COVID-19 today

Leaders of the Group of 20 nations will hold a summit today via video conference to discuss measures to protect the global economy, amid coronavirus pandemic which has claimed over 18,000 lives globally.

The summit, which will be chaired by Saudi Arabia's King Salman bin Abdulaziz Al Saud, aims to "advance a coordinated global response to the COVID-19 pandemic and its human and economic implications," according to the statement published by the G20 Secretariat on Tuesday.

The lethal virus which was first detected in December last year in the Chinese city of Wuhan, has since, infected over 4,14,179 people around the world.

The coronavirus has already resulted in major disruption of global supply chains, volatility and large drops in the stock market and could cause a financial crisis as stated by IMF Managing Director Kristalina Georgieva.

India is a member nation of the G20 group.

Speaking on the summit on Wednesday, Prime Minister Narendra Modi said that the Group of 20 (G20) has an important role to play in the fight against coronavirus.

He said: "The G20 has an important global role to play in addressing the #COVID19 pandemic. I look forward to productive discussions tomorrow at the G20 Virtual Summit, being coordinated by the Saudi G20 Presidency."

The other members include Argentina, Australia, Brazil, Canada, China, Germany, France, India, Indonesia, Italy, Japan, Mexico, the Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, the UK, the US, and the European Union.

In view of the coronavirus outbreak situation, several international organisations -- including the United Nations, World Bank, the World Health Organization and the World Trade Organization will take part.

Leaders from the Food and Agriculture Organization, the Financial Stability Board, the International Labour Organization, International Monetary Fund, the Organization for Economic Cooperation and Development -- will also be the part of the conference.