The Financial Accountability, Transparency and Integrity (FACTI) Panel, a joint General Assembly and ECOSOC initiative established in early 2020, will hold a virtual consultation with Member States on 24 April. The Panel has made available an overview of existing mechanisms and a concept note of their work. Among their priorities will be addressing financial secrecy. Read more
By Bodo Ellmers, Global Policy Forum
Over 80 countries have applied for IMF emergency loans to avoid bankruptcy. The recently agreed debt relief is not enough.
Developing countries have been hit hard by the economic fallout of the coronavirus crisis. Commodity prices have collapsed, and with them their export revenues. Since mass unemployment has spread in the global north, remittances from migrant workers have also been falling. Read more
The global impact of the COVID-19 crisis and the responses have raised a wide range of human rights concerns.
UN human rights experts and the UN High Commissioner have spoken out, collectively and individually, issuing statements covering the full range of civic, political, economic and cultural rights. Read more
The UN General Assembly (UNGA) Member States have adopted by consensus a Resolution (A/RES/74/270) on COVID-19 that calls for “international cooperation” and “multilateralism”. The resolution recognizes the "unprecedented effects of the pandemic, including the severe disruption to societies and economies, as well as to global travel and commerce, and the devastating impact on the livelihood of people". It calls for "intensified international cooperation to contain, mitigate and defeat the pandemic, including by exchanging information, scientific knowledge and best practices”. It stresses "the need for full respect for human rights" and states that "there is no place for any form of discrimination, racism and xenophobia in the response to the pandemic". Read more
At a briefing on COVID-19, Secretary-General Antonio Guterres stated: “We are in an unprecedented situation and the normal rules no longer apply. We cannot resort to the usual tools in such unusual times.”
The Secretary-General’s call for a global ceasefire in light of COVID-19 has already garnered significant support including from Member States and CSOs, receiving over 2 million signatures. Read more
Originally published by Global Policy Forum Europe
In addition to the health aspects of the virus, the global coronavirus crisis also has financial, socio-economic and developmental consequences. For this reason, a large number of policy measures have been announced by governments and international organizations, on the one hand to contain the pandemic, on the other to mitigate the economic consequences. Read more
By Roberto Bissio
The message could not have been clearer: "There is a very real threat of a rapidly moving, highly lethal pandemic of a respiratory pathogen killing 50 to 80 million people and wiping out nearly 5% of the world’s economy. A global pandemic on that scale would be catastrophic, creating widespread havoc, instability and insecurity.” Read more