Equity and Protection, United Nations Office for the Coordination of Humanitarian Affairs, World Bank, International Monetary Fund, Economy, Famine, Food Insecurity, Africa, Global

Organisations. United Nations Office for the Coordination of Humanitarian Affairs UN OCHA, World Bank, International Monetary Fund IMF
Period. 14 – 21 July 2020
  • The UN released an updated COVID-19 Global Humanitarian Response Plan, doubling its appeal to $10.3 billion, more than 80% of which would support responses in 63 low-income countries. Another $1.8 billion would be directed for ‘global requirements’, transport of aid workers and supplies accounting for $1 billion, with a further $300 million allocated directly for NGOs and $500 million for 25 ‘hotspots’ most at risk of famine. The UN Emergency Response Coordinatorwent on to warn that the pandemic and the associated global recession are about to wreak havoc in fragile states, while describe the response by wealthier countries as “grossly inadequate and dangerously short-sighted.”
  • The timely and directed appeal comes as G20 Finance Ministers and heads of central banks are set to meet virtually this coming Saturday. An estimated $11 trillion in stimulus packages have been appropriated by G20 countries as part of an unprecedented economic response, representing 10% of global GDP. To protect the most vulnerable 10% of the world across 32 low-income countries would meanwhile cost less than $90 billion, which is less than 1% of domestic stimulus packages by wealthier countries. The UN Emergency Response Coordinator contrasted the solidarity and international coordination in the aftermath of the 2008 Global Financial Crisis, particularly highlighting the need to reinforce and reassert the role of the IMF and World Bank in supporting lower income countries.

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