UN / FINANCING FOR DEVELOPMENT

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29-Sep-2020 00:02:51
The COVID-19 pandemic is “a catastrophe” but also “a generational opportunity to shape our future for the better,” the UN chief Antonio Guterres said at a high-level virtual event on the sidelines of the 75th UN General Debate. UNIFEED

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STORY: UN / FINANCING FOR DEVELOPMENT
TRT: 2:51
SOURCE: UNIFEED
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LANGUAGE: ENGLISH /FRENCH /NATS

DATELINE: 29 SEPTEMBER 2020, NEW YORK CITY

SHOTLIST:

RECENT

1. Exterior shot, UN Headquarters

29 SEPTEMBER 2020, NEW YORK CITY

2. SOUNDBITE (English) Justin Trudeau, Prime Minister of Canada:
“The last six months have laid bare fundamental gaps and inequities in our societies and between them. As with climate change, those who have the least, are impacted the most.”

RECENT

3. Exterior shot, UN Headquarters

29 SEPTEMBER 2020, NEW YORK CITY

4. SOUNDBITE (French) Justin Trudeau, Prime Minister of Canada:
“Even the development countries that have not been gravely affected by the virus are now facing financial difficulties because of loss of revenues in export and tourism. Several Caribbean countries do not have access to necessary financial resources to help their populations. More than ever it is time to take bold measures and this crisis is an opportunity for us to look at all options even those that have been set aside in the past because they were deemed to be too ambitious.”

RECENT

5. Exterior shot, UN Headquarters

29 SEPTEMBER 2020, NEW YORK CITY

6. SOUNDBITE (English) Andrew Holness, Prime Minister of Jamaica:
“Much more will be required of all of us and without delay. The scope of this pervasive pandemic clearly demands an extraordinary, inclusive and sustainable global management of recovery process. The world needs a global plan as innovative, ambitious and impactful as the Marshall plan was to Europe’s recovery after the devastation of the World War II.”

RECENT

7. Exterior shot, UN Headquarters

29 SEPTEMBER 2020, NEW YORK CITY

8. SOUNDBITE (English) Antonio Guterres, Secretary-General of the United Nations:
“We are suffering the largest economic contraction since the Second World War. Global income from work declined by more than 10 percent in the first three quarters of the year, according to the International Labour Organization. And in middle-income countries, the figure is as high as 15 percent. Women and those employed in the informal sector have shouldered the heaviest burdens. And the global hunger crisis is moving into a new and dangerous phase. In several humanitarian crisis situations, the risk of famine looms.”

RECENT

9. Exterior shot, UN Headquarters

29 SEPTEMBER 2020, NEW YORK CITY

10 . SOUNDBITE (English) Antonio Guterres, Secretary-General of the United Nations:
“The COVID-19 pandemic is a catastrophe. But it is also a generational opportunity to shape our future for the better. I have spoken of the need for a New Global Deal. The global financial architecture is part of that deal, together with a fair globalization, and respect for the rights and dignity of all, for our planet and for future generations. Today must be a step towards integrating the principles of sustainable development and social and economic inclusion into financial decision-making. The COVID-19 pandemic has already brought new ideas to the forefront and shown that ambitious action and transformative change are possible. It is forcing us to answer difficult questions, confront uncomfortable facts; and to change course.”

RECENT

11. Exterior shot, UN Headquarters

STORYLINE:

The COVID-19 pandemic is “a catastrophe” but also “a generational opportunity to shape our future for the better,” the UN chief Antonio Guterres said at a high-level virtual event on the sidelines of the 75th UN General Debate.

Co-chaired by the Prime Ministers of Canada and Jamaica, the event called Financing the 2030 Agenda in the era of COVID-19 and Beyond brought together the Heads of State and Government to consider the menu of policy options developed over the last four months with the ambition of supporting Member States in responding and recovering from the current global crisis.

Opening the meeting, Canada’s PM Justin Trudeau said “the last six months have laid bare fundamental gaps and inequities in our societies and between them. As with climate change, those who have the least, are impacted the most.”

“Even the development countries that have not been gravely affected by the virus are now facing financial difficulties because of loss of revenues in export and tourism,” Trudeau said. “Several Caribbean countries do not have access to necessary financial resources to help their populations. More than ever it is time to take bold measures and this crisis is an opportunity for us to look at all options even those that have been set aside in the past because they were deemed to be too ambitious.”

For his part, Andrew Holness, Prime Minister of Jamaica said “much more will be required of all of us and without delay. The scope of this pervasive pandemic clearly demands an extraordinary, inclusive and sustainable global management of recovery process. The world needs a global plan as innovative, ambitious and impactful as the Marshall plan was to Europe’s recovery after the devastation of the World War II.”

Also speaking at the event, the Secretary-General of the United Nations Antonio Guterres said “we are suffering the largest economic contraction since the Second World War. Global income from work declined by more than 10 percent in the first three quarters of the year, according to the International Labour Organization. And in middle-income countries, the figure is as high as 15 percent. Women and those employed in the informal sector have shouldered the heaviest burdens. And the global hunger crisis is moving into a new and dangerous phase. In several humanitarian crisis situations, the risk of famine looms.”

Guterres also said “the COVID-19 pandemic is a catastrophe. But it is also a generational opportunity to shape our future for the better. I have spoken of the need for a New Global Deal. The global financial architecture is part of that deal, together with a fair globalization, and respect for the rights and dignity of all, for our planet and for future generations. Today must be a step towards integrating the principles of sustainable development and social and economic inclusion into financial decision-making. The COVID-19 pandemic has already brought new ideas to the forefront and shown that ambitious action and transformative change are possible. It is forcing us to answer difficult questions, confront uncomfortable facts; and to change course.”

On 28 May 2020, Canada, Jamaica and the UN Secretary-General convened a High-Level Event to join forces with Heads of State and Government, international organizations, and other key partners to enable discussions of concrete financing solutions to the COVID-19 health and development emergency for everyone. In follow up to the High-Level Event on May 28th, six Discussions Groups were convened to address questions of external finance and remittances, jobs and inclusive growth; recovering better for sustainability; global liquidity and financial stability; debt vulnerability; private sector creditors engagement; and illicit financial flows.
The result was a single, ambitious menu of options addressing policies for the short, medium and long term, supported by a set of six executive summaries containing key highlights of each Discussion Group and fully reflecting the variety of needs and views of various stakeholders and, above all, those of Member States.
The menu of policy options has been distilled further to reflect to views expressed by Ministers of Finance from all continents received during a High-Level Meeting on 8th September. The menu of policy options is not a negotiated document and reflects a wide array of perspectives and priorities.
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