From the Document: "The human cost of the COVID-19 [coronavirus disease 2019] outbreak is enormous. The pandemic is also pushing countries across the globe into a deep economic recession that is expected to be worse than the financial crisis of 2008, even under relatively optimistic scenarios in which trade rebounds in 2021. [...] At stake is the international system of multilateral cooperation, which has so far failed to provide an adequate collective response to the outbreak. National governments have enacted similar measures - such as lockdowns, travel bans and social distancing - to cope with the health crisis, but efforts to ensure desperately needed international coordination have been limited. The Group of Twenty (G20), which includes the world's leading economies, has the potential to play a central role in alleviating this crisis. It could provide the political impetus needed to galvanize global solidarity in the fight against the outbreak and reinforce the mandates and instruments of global governance. Were it to do so, the G20 could make a crucial contribution to the preservation, and possibly revitalization, of the global multilateral system."
Institute of International Affairs (IAI): https://www.iai.it/