Only bold action can curb the economic fallout from COVID-19 by UN DESA 4/1/20

Photo Credit: UN NEWS

Empty streets, shuttered shops, overflowing hospitals. The entire world is at war with an invisible enemy – the novel coronavirus. With a vaccine to protect against the disease still a distant possibility, our best weapon remains staying away from each other. But while social distancing saves lives, it drags down the global economy and threatens jobs.

The World Economic Situation and Prospects Monthly Briefing issued today by UN DESA found that the COVID-19 pandemic could shrink world economic output by 0.9 per cent in 2020, instead of growing 2.5 per cent, as previously projected. By comparison, the world economy contracted by 1.7 per cent during the global financial crisis in 2009.

“Urgent and bold policy measures are needed, not only to contain the pandemic and save lives, but also to protect the most vulnerable in our societies from economic ruin and to sustain economic growth and financial stability,” said Liu Zhenmin, UN Under-Secretary-General and head of UN DESA.

UN chief urges unity in mobilizing ‘every ounce of energy’ to defeat COVID-19 pandemic 4/5/20

Photo Credit: UN NEWS

The UN chief observed that in many critical situations, there has been no let-up in fighting, and in some, conflicts have even intensified. “ We need robust diplomatic efforts to meet these challenges”, he asserted. “To silence the guns, we must raise the voices for peace”.

Mr. Guterres explained that he and his envoys are engaging with conflict actors to help push forward ceasefires. As the UN Special Envoy in Yemen works to convene the parties to discuss COVID–19 crisis management and nationwide ceasefire mechanisms, the conflict has spiked – despite expressed support for a truce by the Government and warring parties.

“I call on all governments and movements involved and their supporters to put an end to the catastrophic conflict and humanitarian nightmare – and come to the negotiating table”, implored the UN chief.