World Bank calls on G20 ministers to eliminate or reduce tariffs on pandemic-related goods

Reuters News reports that the World Bank called on G20 ministers to eliminate or reduce tariffs on pandemic-related goods, and lower or suspend tariffs and export taxes on food and other basic goods.

Key notes

• World Bank calls on G20 trade ministers to refrain from new export restrictions on critical medical supplies, food or other key products.
• World Bank calls on G20 ministers to eliminate or reduce tariffs on pandemic-related goods, and lower or suspend tariffs and export taxes on food and other basic goods.
• World Bank repeats call for all official bilateral creditors to suspend debt payments from IDA countries that request forbearance.
• World Bank says an open and rules-based trading system will be essential for recovery and sustainable development.