In early March 2020 , the finance ministers of the G7 countries announced measures put in place to cushion citizens against the impact of the COVID-19 pandemic .
On 3 March , the finance ministers and central bank executives of the G7 released a joint statement to `` reaffirm our commitment to use all appropriate policy tools '' to address the socioeconomic impact of the outbreak including `` fiscal measures where appropriate '' with the central banks continuing to `` fulfill their mandates , thus supporting price stability and economic growth . ''
Socio-economic impact of the 2019–20 coronavirus pandemic