The Greatest Test: UN News

The United Nations urges the world to unite as COVID-19 spreads throughout communities, forcing people to isolate, ruining economic activity and livelihoods. Long-term effects could be dire, and Secretary-General António Guterres calls for shared responsibility. “This human crisis demands coordinated, decisive, inclusive and innovative policy action from the world’s leading economies – and maximum financial and technical support for the poorest and most vulnerable people and countries,” he writes, urging countries to scale up health capacity for testing, tracing, quarantine, treatment, protection of responders. Global health is only as strong as its weakest health system, he notes, and developed nations and communities must to assist the vulnerable. He anticipates new economic values to emerge, with demand for social protections, debt alleviation, attention to scientific research, and action on climate change and other global challenges. The UN International Labour Organization anticipates that up to 25 million jobs could be lost along with more than $3 trillion in labor income. The UN Conference on Trade and Development projects downward pressure on foreign direct investment; the crisis also disrupts education for more than 1 billion students. The UN calls for a massive comprehensive multilateral response, investing 10 percent of global GDP or more. Otherwise, the world risks grave economic damage and the security challenges sure to follow. – YaleGlobal

The Greatest Test: UN News

The United Nations warns about COVID-19’s potentially devastating socioeconomic impacts, issues a plan, calling on everyone to “act together to lessen the blow”
Wednesday, April 1, 2020

Read about a UN plan on the COVID-19 pandemic.

UN PLAN: COVID-19  ● Stimulus package 10+ percent of world’s GDP ● Assist developing countries ● Regional mobilization ● Monetary coordination, fiscal and social measures ● Financial sector support for businesses ● Address structural challenges ● National and community solidarity ● Prioritize social cohesion ● Support work and education
Plan: The UN has issued a plan centered on a stimulus package representing at least 10 percent of the world’s gross domestic, which totaled more than $85 trillion in 2018 (Source: UN News)