New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link Anti-Empire — Shadow Banned by Google Tue Mar 02, 2021 19:12 | Anti-Empire

offsite link London Police Says COVID Rules No Longer... Tue Mar 02, 2021 16:16 | Robert Mendick

offsite link Lockdowns Have Killed Millions Tue Mar 02, 2021 15:24 | Sebastian Rushworth MD

offsite link Disarming the Deplorables Tue Mar 02, 2021 12:15 | Kevin Yuill

offsite link Western Governments Work to Strangle Fun... Tue Mar 02, 2021 11:30 | Terje Maloy

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link Leaked: Smith College memo demands workers admit White privilege Wed Mar 03, 2021 01:04 | amarynth
by Ramin Mazaheri for the Saker Blog As a daily reporter, columnist and author it seems I have developed a reputation for unparalleled bravery in exposing truths which the 1%

offsite link Moveable Feast Cafe 2021/03/02 ? Open Thread Tue Mar 02, 2021 15:30 | Herb Swanson
2021/03/02 15:30:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link Bernays and Propaganda ? The Transition to Education and Commerce ? Part 4 Tue Mar 02, 2021 10:16 | amarynth
By Larry Romanoff for the Saker Blog The success of Lippman and Bernays did not go unnoticed in many segments of American society. Universities in particular realised the potential of

offsite link Book review: ?Disintegration? by Andrei Martyanov Tue Mar 02, 2021 02:32 | The Saker
[this book review was written for the Unz Review] This is the third book by Andrei Martyanov that I am reviewing, the first one was ?Book Review – Losing Military

offsite link The ?Cancel Culture? phenomenon: kind of hate-hush all over the world Mon Mar 01, 2021 17:45 | amarynth
by Ghassan and Intibah Kadi for the Saker Blog Who remembers the Herman?s Hermits and their 1967 song ?There?s a Kind of Hush?? The hush the song speaks of is

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mainstream media: Failing to speak truth to power

offsite link David Quinn’s selective tolerance Anthony

offsite link A Woulfe in judges clothing Anthony

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

Public Inquiry >>

Human Rights in Ireland
A Blog About Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

offsite link Turkish President Calls On Greece To Comply With Human Rights on Syrian Refugee Issues Wed Mar 04, 2020 17:58 | Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

Human Rights in Ireland >>

Finance Ministers and United Nations Discuss COVID Crisis Solutions

category international | economics and finance | press release author Tuesday September 08, 2020 20:19author by Zachary Conti - Jubilee USA NetworkReport this post to the editors

IMF Announces Access to Global "SDRs" Reserve

The majority of developing countries face deepening crises, IMF head Kristalina Georgieva told a global meeting of Finance Ministers. Georgieva spoke during, "Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond." The coronavirus crisis meeting was convened by the UN Secretary General and Finance Ministers of Canada and Jamaica.

"The economic and health impacts for poor people around the world are worsening," stated Jubilee USA Executive Director Eric LeCompte. LeCompte participated in the multi-month COVID-19 response process that created options for Finance Ministers to confront the crisis. "Unless we move forward additional aid and relief, too many countries could wrestle with lost decades of development."

Mahmoud Mohieldin, the UN Secretary General's Special Envoy on Financing the 2030 Agenda, explained during the meeting that while some advanced economies spend the equivalent of 10% of their economic output on pandemic response programs, poor countries cannot even reach 1% of spending.

Georgieva announced the deployment of global reserve funds or Special Drawing Rights. Roughly, $176 billion of these monies are currently held by wealthy countries and could be donated to poor countries.

“We welcome the IMF announcement to disburse billions of dollars of Special Drawing Rights to confront this crisis. As we count the impacts of this crisis in the trillions, G20 Finance Ministers should agree to issue trillions more in global reserve funds," said LeCompte.

The World Bank and several Finance Ministers joined the IMF in a call to extend a 2020 coronavirus debt relief initiative into 2021 to support the 73 poorest countries. World leaders also argued that private banks and creditors should stop collecting poor country debts.

"The bare minimum that world leaders must do now is extend debt payment suspensions for poor countries into next year," noted LeCompte. "Further actions are also critical to protect vulnerable communities and to help all of us emerge with resilience from this crisis. The private sector must be compelled to offer debt relief, more developing countries need aid and some countries need to see their debts permanently reduced."

Several high-level participants urged the need to address revenue losses of countries because of tax evasion, corruption and other illicit financial flows.

Heads of State meet during the UN General Assembly on September 29th to consider the crisis proposals discussed at the Finance Ministers meeting. In October and November, the G20, IMF and World Bank hold additional decision-making meetings.

Related Link: https://www.jubileeusa.org/finance_ministers_and_united_nations_discuss_covid_crisis_solutions
© 2001-2021 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy