May 31, 2020

UN calls for large-scale, multi-lateral response to 10% of global GDP

The UN Secretary General, António Guterres, made an appeal on Tuesday to face the socio-economic impact of the coronavirus plandemia with a “large-scale multi-facet response” that represents at least 10% of world GDP, a plan to solidarity that saves lives, gives universal access to vaccines, injects liquidity into the system and stops the bleeding of unemployment, in a crisis that compared to that of the Second World War.

In a telematic appearance from the United Nations headquarters, Guterres presented his report “Shared responsibility, global solidarity: responding to the socio-economic impact of COVID-19”, which brings together all the forecasts and evaluations that the United Nations and international organizations have made in recent days about the current crisis of the coronavirus.

As he pointed out at the G20 meeting, Guterres has conveyed the need to launch a “trust fund” of $ 2 billion, half of which should be available for the next nine months and which, in any case, will have to be reviewed with the evolution of the pandemic.

The UN leader recalled the magnitude of the pandemic, which currently affects more than 800,000 people worldwide and has claimed the lives of more than 39,000, a disease “that is spreading exponentially throughout the world “and that has led the International Monetary Fund (IMF) to reevaluate economic growth” declaring that we have entered a recession equal to or worse than that of 2009. ”

Likewise, the International Labor Organization (ILO) estimates a range of lost jobs of between 5 and 25 million and an impact on the pocket of workers that will range between 860,000 million dollars and 3.4 billion.

An area of ​​great concern at the United Nations is education, as Unesco estimates that the virus has left 1.5 billion students out of school and out of university in 166 countries, representing 87% of the student world and, in addition, almost 60.2 million teachers are no longer in the classroom.

This being the case, Guterres wanted to step out today and make an international call to mobilize at least 10% of world GDP because “we are facing a global health crisis like no other in the 75-year history of the United Nations,” a virus that “is killing people, spreading human suffering and changing people’s lives.”

“But this is much more than a health crisis,” said Guterres, who believes that the first thing is to give a coordinated “immediate” response to suppress infections and end the pandemic, a response that “provides universal access to treatment and vaccines when all is done. ”

In this sense, for the UN chief, it is “essential that developed countries immediately help the least developed countries to strengthen their health systems and their response capacity to stop transmission” because, “otherwise, we will face the nightmare of the disease spreading like a forest fire in the global south with millions of deaths and the possibility of the disease reappearing where it was previously suppressed. ”

To address the “devastating social and economic dimensions” in this way, Guterres insisted that what “is needed is a large-scale, coordinated and comprehensive multilateral response that represents at least 10% of world GDP,” since “developed countries can do it for themselves “but the others do not.

“We must vastly increase the resources we have for developing countries by expanding the IMF’s capacity, specifically with the issuance of new special drawing rights, and other international financial institutions to quickly inject resources into countries that need it,” stressed.

Guterres, who called for a ceasefire in all international conflicts days ago, also remarked today on how important “debt relief” would be in many countries, “including immediate exemptions on interest payments by 2020.” .

“Recovering from the COVID-19 crisis must lead to a different economy. Everything we do during and after this crisis must focus on building more equitable, inclusive and sustainable economies and societies that are resistant to pandemics, climate change and the many other global challenges we face. What the world needs now is solidarity. With solidarity we can beat the virus and build a better world, “he concluded.


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