Responding to the socio-economic impacts of COVID-19 - UN Chief

The Launch of the report "Shared responsibility, global solidarity: Responding to the socio-economic impacts of COVID-19" by UN Chief António Guterres.

This report is a call to action, for the immediate health response required to suppress transmission of the virus to end the pandemic; and to tackle the many social and economic dimensions of this crisis. It is, above all, a call to focus on people – women, youth, low-wage workers, small and medium enterprises, the informal sector and on vulnerable groups who are already at risk.

The UN Secretary-General Antonio Guterres launched on Tuesday (31 Mar) a new plan to counter the potentially devastating socio-economic impacts of the coronavirus pandemic, calling for a “shared responsibility and global solidarity in response to the impacts of COVID-19.”

“It is a call to action.” said Secretary-General António Guterres, pointing out that “we are only as strong as the weakest health system in our interconnected world.”

“It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity to stop transmission,” said Guterres. “Otherwise we face the nightmare of the disease spreading like wildfire in the global South with millions of deaths and the prospect of the disease re-emerging where it was previously suppressed,” he added.

The new report, Shared responsibility, global solidarity: Responding to the socio-economic describes the speed and scale of the outbreak, the severity of cases, and the societal and economic disruption of the coronavirus.

“What is needed is a large-scale, coordinated and comprehensive multilateral response amounting to at least 10 per cent of global GDP,” said UN chief. “We must massively increase the resources available to the developing world by expanding the capacity of the International Monetary Fund, namely through the issuance of special drawing rights, and the other international financial institutions to rapidly inject resources into the countries that need them.”

In tackling the devastating social and economic dimensions of the crisis, the UN chief pushed for a focus on the most vulnerable by designing policies that, among other things, support providing health and unemployment insurance and social protections while also bolstering businesses to prevent bankruptcies and job losses.

I am particularly concerned for the African continent,” said Guterres calling on the G20 to “move ahead with the G20 African Initiative as proposed at the summit. ”

Guterres also called for a “coordinated swaps among central banks” in order to bring liquidity to emerging economies, and he insisted that “debt alleviation must also be a priority – including immediate waivers on interest payments for 2020.”

Secretary-General said that the UN is “fully mobilized” and is establishing a new multi-partner Trust Fund for COVID19 Response and Recovery to respond to the emergency and recover from the socio-economic shock.

Referencing the 2030 Agenda and the 17 Sustainable Development Goals (SDGs), he maintained that in recover from the COVID-19 crisis must lead to an economy focused on building inclusive and sustainable economies that are more resilient in facing pandemics, climate change, and the many other global challenges.

“The recovery from the COVID-19 crisis must lead to a different economy,” Guterres said. “Everything we do during and after this crisis must be with a strong focus on building more equal, inclusive and sustainable economies and societies that are more resilient in the face of pandemics, climate change, and the many other global challenges we face.”

“What the world needs now is solidarity. With solidarity we can defeat the virus and build a better world,” he said.

The report includes estimates from a host of UN agencies.

According to the UN International Labour Organization (ILO), five to 25 million jobs will be eradicated, and the United States will lose USD 860 billion to USD 3.4 trillion in labor income.

The UN Conference on Trade and Development (UNCTAD) projected a 30 to 40 per cent downward pressure on global foreign direct investment flows while the World Tourism Organization (UNWTO) saw a 20–30 per cent decline in international arrivals.

Meanwhile, the International Telecommunication Union (ITU) anticipated that 3.6 billion people will be offline and the UN Educational, Scientific and Cultural Organization (UNESCO) forecast that 1.5 billion students out of school.

The report calls for a large-scale, coordinated, comprehensive multilateral response that amounts to at least 10 per cent of global gross domestic product (GDP) and warns that there is no time to lose in mounting the most robust, cooperative health response the world has ever seen.

[MikeinCC]

Two words from this American: POUND. SAND.

[jacqquelinetackaberry]

TRUMP 2020 and originalist conservatives in the congress from MANY OF US IN LA WEST, BEVERLY HILLS, MALIBU AND THE BAY AREA 🙌

[neilwhitaker]

No Thank You, quite frankly the U.N. and the WHO are not very good at what they are supposed to. And I am being overly generous.

[arctic_shadow]

Canada doesn't need the un security seat

[SeaJay_Oceans]

Seems like Washington D.C. is not the only Swamp that needs drained... WHO and U.N. needs some 'quality control' too...

[SAC]

Try imposing this on the most well-armed country in the world while keeping your headquarters in that country. See how that works out for you.

[jacqquelinetackaberry]

It is really unbelievable that I remember hearing people starving in 1970 when I was 7 years old in Malibu !!!! By the 80’s these SAME PEOPLE had GOLD PLATED BATHROOM FIXTURES ( my family) and NO LONGER CARED!! However, WE VOTED 🗳 REAGAN WHEN WE FINALLY HAD A CHOICE IN THE MADNESS 😡

[Jurnymn]

You people have lost your mind. Tax tax tax, take take take for your bs agenda.

[jacqquelinetackaberry]

WE WILL NEED TO TAKE CARE OF SKID ROW FIRST 😡

[MsMatcauthon]

This money will be laundered for parasites

[olgan]

Mr.Guterres, all my good thoughts with you! I adore this SG, it is not an easy job to bear a burden of being head of the organisazion contantly coming under criticism, yet without the UN the world would have descended into chaos

[jacqquelinetackaberry]

We have heard from our President in the Bay Area California!! And we will move forward with that

[hossainshariarchowdhury]

Huge people in the world are unemployment right now & they have not that much money to deal with their life comfortably that is clearly shown us as a worldsocial and economical problem & ultimately they are involving lots of crime and criminality as well. So need to think all the Government & non governmental organizations for that kind of people, financially helping them & recruit them in the job or other site considering their ability & talent.

[sameh]

i, ve knowtest that the hotest spots on the planet is concentrated in india, and gulf specially saudi arabia, hope you just ask them to stop the heat sources, specially the excessive ones, because they are riseing the temperature globally, in india still metals melting factories, and grills, and cars, and others, SAMEH.

[bowecho]

🤣😂🤣 This has to be a comedy.
On yet bike pandering for another "redistribution of wealth" scheme.

[greenwahine]

With world supplies low, Can handmade facemasks help prevent community spread?
Is their a particular pattern or material that would be best to make them?
Including using supplies economically dis-advantaged or vunerable may already have. Including safely setting up & safely supplying materials & distribution to cottage at home sewing businesses.
Peace and Stay Safe!🤍❤️