The UN Secretary-General António Guterres on Tuesday launched a new plan to counter the potentially devastating socio-economic impacts of the COVID-19 pandemic, calling on everyone to “act together to lessen the blow to people.” This was as he launched a new report, Shared responsibility, global solidarity: Responding to the socio-economic impacts of COVID-19, which describes the speed and scale of the outbreak, the severity of cases, and the societal and economic disruption of the coronavirus. Guterres pointed out that the potential longer-term effects of the virus on the global economy and individual countries are “dire”. “COVID-19 is the greatest test that we have faced together since the formation of the United Nations,” said the UN chief. “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.” Guterres called for an immediate coordinated health response to suppress transmission and end the pandemic that scales up health capacity for testing, tracing, quarantine and treatment, while keeping first responders safe, combined with measures to restrict movement and contact. He underscored that developed countries must assist those less developed, or potentially “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”. “Let us remember that we are only as strong as the weakest health system in our interconnected world. Focus on most vulnerable In tackling the devastating social and economic dimensions of the crisis, Guterres 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. Debt alleviation must also be a priority he said, noting that the UN is “fully mobilized” and is establishing a new multi-partner Trust Fund for COVID-19 Response and Recovery to respond to the emergency and recover from the socio-economic shock. “When we get past this crisis, which we will, we will face a choice”, said Guterres, adding: “we can go back to the world as it was before or deal decisively with those issues that make us all unnecessarily vulnerable to crises”. Referencing the 2030 Agenda and the 17 Sustainable Development Goals (SDGs), he maintained that recovery 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. Measures to cope with coronavirus impacts Global actions must include a stimulus package reaching double-digit percentage points of the world’s GDP, with explicit actions to boost the economies of developing countries; Regional mobilization must examine impacts, monetary coordination, fiscal and social measures while engaging with the private financial sector to support businesses and address structural challenges; National solidarity needs to prioritize social cohesion and provide fiscal stimulus for the most vulnerable along with support to small- and medium-sized enterprises, decent work and education. What the world needs now is solidarity,” stressed the Secretary-General. “With solidarity, we can defeat the virus and build a better world”.
