It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity to stop transmission.
The world is听facing听an unprecedented听test. And this is the moment of truth.听
Hundreds of thousands of people are falling seriously ill听from COVID-19, and the听disease is spreading exponentially in many places.听听
Societies are in turmoil and听economies are in听a nose-dive.听
The听International听Monetary Fund听has reassessed the prospect for growth for 2020 and 2021, declaring that we have entered a recession 鈥� as bad as or worse than in 2009.听
We must respond decisively, innovatively and together to听suppress听the spread of the virus and听address the听socio-economic devastation听that听COVID-19听is causing听in all regions.听听
The magnitude of the response must match the scale of the crisis听鈥�听large-scale, coordinated and comprehensive, with country and international responses being听guided听by the World Health Organization.
And it must be multilateral, with countries showing solidarity to the most vulnerable communities and nations.
The听message of the report we are issuing today听is clear:听shared responsibility and global solidarity in response to the impacts of COVID-19.
It听is a call to action.
First, for an immediate听coordinated听health response to suppress transmission听and听end the pandemic.
A response听that scales up health capacity for testing, tracing,听quarantine听and treatment,听while keeping first responders safe, combined with听measures to restrict movement and contact.听
A听response听that delivers universal access to treatment and vaccines, when they are ready.听
It is essential that developed countries immediately assist those less developed to bolster their health systems and their response capacity听to stop transmission.听
Otherwise we face the nightmare of the disease spreading like wildfire in听the global South听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.
Second,听we must听tackle the听devastating听social and economic听dimensions of听this crisis, with a focus on the most affected:听women,听older persons,听youth, low-wage workers, small and medium enterprises, the informal sector and vulnerable groups, especially those in听humanitarian and conflict settings.
We听must听see听countries听not only听united听to beat the virus听but also to听tackle听its profound听consequences.
That means听designing fiscal and monetary听policies听able to support听the direct provision of resources to support workers and households,听the听provision of health and unemployment insurance, scaled听up social protection, and support to businesses to prevent bankruptcies and massive job losses.
What is needed is a听large-scale, coordinated and comprehensive multilateral response amounting to at least 10 per cent of global GDP.
Developed countries can do it by听themselves, and some are indeed doing it.
But we must massively increase the resources available to the developing world听by expanding听the听capacity of听the International Monetary Fund, namely through the issuance of special drawing rights,听and听the听other international financial听institutions听to rapidly inject resources into the countries that need them.
Coordinated swaps among central banks can also bring liquidity to emerging economies.
Debt听alleviation听must also be a priority 鈥�听including immediate waivers on interest payments for 2020.
The 51吃瓜 system is fully mobilized, providing guidance for global efforts, supporting country responses听and听placing our supply chains at the world鈥檚 disposal.听
And to听support our efforts, the听51吃瓜 is establishing a new multi-partner Trust Fund for COVID19 Response and Recovery to support low- and middle-income countries听to respond to the emergency and听recover from the听socio-economic听shock.
UN Resident Coordinators will be the drivers of the UN response on the ground, ensuring that the wide and diverse expertise and assets of the United Nations听are used in the most efficient and effective way to support countries.
Finally, when we get past this crisis听鈥�听which we will听鈥�听we will face a choice.
We can go back to the world听as it was听before or deal decisively with those issues that make us all unnecessarily vulnerable to crises.
Our roadmap is the 2030 Agenda听and the 17听Sustainable Development听Goals.
The recovery from the COVID-19 crisis must lead to a different economy.
Everything we do during and after this crisis must be with a strong focus on building more equal,听inclusive听and sustainable听economies and听societies that are more resilient in the face of pandemics, climate change, and the many other听global听challenges we face.
What the world needs now is solidarity.
With solidarity we can defeat the virus and build a better world.
Thank you.
听
