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Governments and International Organizations Come Together to Address Economic Challenges and Sustainability

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NEW YORK, 28 May 2020 — United Nations Secretary-General António Guterres, the Prime Minister of Canada, Justin Trudeau and the Prime Minister of Jamaica, Andrew Holness, will convene world leaders and international organizations today in a joint initiative to sharpen and accelerate our global response to the significant economic and human impacts of COVID-19, and advance concrete solutions to the development emergency.

This pandemic requires a large-scale, coordinated, comprehensive multilateral response to support countries in need, enabling them to recover better for more prosperous and resilient and inclusive economies and societies.

With more than 50 Heads of State and Government participating, the High-Level Event on Financing for Development in the Era of COVID-19 and Beyond is the most inclusive gathering of countries to focus on the socio-economic recovery and financing needs from the pandemic. We must continue to coordinate these efforts to avoid a devastating impact on people’s lives and livelihoods.

We all face economic strain in responding to this pandemic, particularly low- and middle-income countries, many of which are seeing their efforts to achieve the Sustainable Development Goals (SDGs) set back.

The High-Level Event looks at six urgent areas of action to mobilize the financing needed for the response and recovery. These include expanding liquidity across the global economy; addressing debt vulnerabilities; stemming illicit financial flows; increasing external finance for inclusive growth and job creation; and strategies for countries to recover better, achieve the SDGs, address climate change and restore the balance between the economy and nature.

“The pandemic has demonstrated our fragility,” said UN Secretary-General Antonio Guterres. “We are in an unprecedented human crisis, because of a microscopic virus. We need to respond with unity and solidarity, and a key aspect of solidarity is financial support.”

Jamaica’s Prime Minister Andrew Holness said “the COVID-19 pandemic demands that we take immediate action to address its impacts on the economies of all countries, in every region of the world and at every stage of development.” He added that he welcomes the six thematic areas of focus, including the “necessity to address the urgent need for increased liquidity, particularly for low- and middle-income countries.”

Canada’s Prime Minister Justin Trudeau said that “all countries are being tested by the COVID-19 pandemic, and it threatens to undermine our hard-won development gains. We know the best way to help all our people and economies rebound is to work together as a global community. We want to support collective and individual actions to enable a recovery that leads to more inclusive, sustainable and resilient economies, where no one is left behind.” 

The cost of the pandemic
World Health Organization (WHO) figures show that the COVID-19 pandemic has already claimed more than 340,000 lives, with more than 5.4 million cases globally. Unless we act now, UN projections indicate that the pandemic could slash nearly $US8.5 trillion from the global economy over the next two years, forcing 34.3 million people into extreme poverty this year, and potentially, an additional 130 million people during this decade. 

Failing businesses are already causing a surge in unemployment. The International Labour Organization (ILO) expects that global working hours in the second quarter of 2020 will be 10.5 per cent lower than before the crisis, equivalent to 305 million full-time jobs. Women are particularly affected, as they are overrepresented in sectors that have been the most affected with initial job losses. They are also the majority of those employed in the informal sector globally and on the whole tend to hold less secure jobs with fewer protections, less savings, and are more likely to live in, or close to, poverty.

The pandemic is causing economic distress even in countries that have not yet experienced the health impact in large numbers. Falling exports and growth are rapidly undermining the debt sustainability of many developing countries, particularly those that are heavily dependent on commodities, tourism revenues or remittances. Growing debt distress poses an enormous challenge to these countries, further constraining their ability to implement stimulus measures.

Even prior to the outbreak of the pandemic, almost half of all least developed and other low-income countries were in, or close to, debt distress. Debt servicing costs for these countries more than doubled between 2000 and 2019, to 13 per cent of government revenue, and reached more than 40 per cent in a quarter of all Small Island Developing States (SIDS).

Effective domestic resource mobilization will be crucial for rebuilding economies. Yet trillions of dollars are thought to be held in undeclared offshore financial holdings. The cost of money laundering has been estimated at around $US1.6 trillion a year.

Meeting the challenges
In the face of this unprecedented health, social and economic crisis, many governments across the world have rolled out large fiscal stimulus measures equivalent to an estimated 10 per cent of national gross domestic product (GDP). But most developing economies are finding it difficult or impossible to implement sufficiently large fiscal packages, which have so far averaged less than 1 per cent of their GDP.

In April 2020, the G-20 agreed to suspend debt service on bilateral official debt to 76 low-income developing countries to help increase liquidity to deal with the impacts of the crisis. The International Monetary Fund (IMF) offered further debt service relief to 25 of the poorest countries, and the World Bank has been coordinating with regional banks to discuss COVID-19 support, joint initiatives, co-financing, and ways to maximize net flows to the poorest and most vulnerable countries. But far more is needed, and quickly.

The High-Level Event will discuss a wide range of inclusive solutions, seeking input from the countries feeling the most impacted.

Rebuilding sustainably
In the initial containment and crisis phase of the pandemic, nations have prioritized the health of people before turning to the economic and labour market consequences.  As each nation charts its own course to recovery, countries are seeking to limit the economic fallout by taking steps to protect enterprises, jobs and incomes, and to stimulate the economy, and to do so in a way that protects women and families, young people, and the most vulnerable in our societies. 

We must raise our ambitions in order to recover better, by building more prosperous, inclusive, resilient and sustainable economies and societies. Countries cannot afford to leave unattended the underlying fragilities at the core of our current economic and social systems. We cannot wish away systemic risks, from the climate crisis to high and persistent inequality. Everyone will benefit if we address these risks by investing up front. 

The Event will include a High-Level Segment in which Heads of State and Government will express their commitment to finding multilateral solutions to the global economic crisis and its effects on the most vulnerable. In addition, a High-Level Panel of leaders from international institutions will discuss the challenges and opportunities for urgent, decisive action. Following the Panel, the High-Level Segment among Heads of State and Government, and partners will continue.

Six critical areas of focus
The Event will also launch a collaborative effort to enable discussions on concrete proposals to overcome challenges in six areas, and progress will be reported back at the margins of the High Level Political Forum in July, the General Assembly in September, and at the end of the year that include:

  1. The need to expand liquidity in the global economy and maintain financial stability to safeguard development gains. 
  2. The need to address debt vulnerabilities for all developing countries to save lives and livelihoods for billions of people around the world. 
  3. The need to create a space in which private sector creditors can proactively engage in effective and timely solutions.
  4. Prerequisites for enhancing external finance and remittances for inclusive growth and creating jobs.
  5. Measures to expand fiscal space and foster domestic resource mobilization by preventing illicit financial flows.
  6. Ensuring a sustainable and inclusive recovery by aligning recovery policies with the Sustainable Development Goals.

The outcomes of the High-Level Event include the formation of six discussions groups, a collaborative effort that aims at providing concrete proposals by mid-July.
There is no time to lose. Solutions cannot wait, and decisive action is required.

Courtesy of Office of the Prime Minister, Jamaica

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Fire & Ice wreack havoc in USA, millions impacted and 8 dead

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Deandrea Hamilton

Editor 

 

USA, January 8, 2025 – On Monday, 300k people were without electricity due to winter storm Blair, six had been reported killed in the storm which impacted 63 million people in the Central and Eastern United States – that was on Monday.

Two days later… 300k are without power due to a starkly different storm; a raging inferno barreling through Southern California which has forced at least 19 school districts and other iconic and public sites to close.

Air quality is greatly reduced and many are opting for masks as they remain indoors.

The wildfires have been fanned by ferocious Santa Ana winds and two are said to have been killed, thousands more injured.

Hundreds of homes and businesses are under threat; 1,100 structures are burned, thousands of people are evacuating, mandatory evacs are also being enforced, shelters are opened, telecommunications is compromised making reaching loved ones and help near impossible and 1,400 firefighters are battling the blaze, mainly from the ground.

The winds are simply too dangerous A state of emergency has been declared for California with sections of the Pacific Coast Highway closed. The cause of the fire is unknown but it is under active investigation.

“The combination of low humidity, dry fuels and shifting winds has heightened the potential for spot fires and rapid expansion,” Cal Fire said in an update.

Two people were this morning were arrested for, of all things, looting.

Meanwhile, residents from Texas to the Carolinas brace for winter storm Cora; expected to bring 3-6 inches of snow on many states.

Sources: Ongoing press conference, Weather Channel, USA Today and CBS News.

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Caribbean News

5.4 Million in Haiti are going hungry as Gangs recruit children, UN calls for Immediate Action

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Garfield Ekon

Staff Writer

 

 

Haiti, December 9, 2024 – The United Nations Economic and Social Council (ECOSOC) is warning that as Haiti grapples with escalating violence and systemic collapse, its children are bearing the brunt of a multipronged crisis that threatens their lives, safety, and future.

UN officials and humanitarian leaders used the ECOSOC meeting last Monday December 2 to highlight the direct conditions in Haiti, where violence has severely disrupted life in the  Caribbean Community (CARICOM) country.

They have called for immediate action to support its youngest citizens.

The UN said 5.4 million people, half the population are facing acute food insecurity and 700,000 displaced, urgent international intervention is needed to address a crisis compounded by armed groups violence, economic instability, and insufficient humanitarian funding.

UN Emergency Relief Coordinator, Tom Fletcher, who took up his post two weeks ago, spoke of the devastating impact of the crisis on children. “The children of Haiti are displaced. They are malnourished. They live in fear, their neighbourhoods controlled by armed groups.”

The Executive Director of the UN Children’s Fund (UNICEF), Catherine Russell said “we estimate that children account for 30 to 54 per cent of armed group members while the total number of children recruited by armed groups has jumped by 70 per cent over the past year.”

She also highlighted the collapse of essential services, with 1.5 million youngsters losing access to education and healthcare facilities shutting down due to violence and insecurity.

Despite the challenges, UN agencies and partners continue to deliver aid.  Facing a surge in displacement and food insecurity, the UN’s World Food Programme (WFP) has announced an expanded response, targeting nearly two million people with emergency relief.

“We have been delivering record amounts of food assistance to Haitians in Port-au-Prince and across the country these past few months and will do even more in the coming weeks,” said the WFP’s Country Director, Wanja Kaaria.

The WFP also supports local economies by sourcing 70 per cent of school meal ingredients from Haitian farmers, fostering long-term resilience and development.

Yet, the scale of the response is dwarfed by the growing needs as speakers at the ECOSOC session stressed the need for immediate international action to close funding gaps, protect children from exploitation, and rebuild essential services.

UN Special Representative Maria Isabel Salvador, who also heads the UN Integrated Office in Haiti (BINUH), urged the global community to address root causes of the crisis.

“The challenges Haiti faces are immense, but one truth is undeniable: no progress can be made without addressing the pervasive insecurity caused by armed gangs.  UNICEF and other humanitarian leaders called on the UN Security Council -backed Multinational Security Support (MSS) mission and Haitian authorities to prioritise child protection during operations, ensuring safe reintegration for children recruited by armed groups.

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Caribbean News

Sargassum is the new Fuel, Barbados team powers car with RNG

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Garfield Ekon

Staff Writer

 

 

Barbados, December 9, 2024 – When large swathes of invasive seaweed started washing up on Caribbean beaches in 2011, local residents were perplexed.  Soon, mounds of unsightly sargassum, carried by currents from the Sargasso Sea and linked to Climate Change – were carpeting the region’s prized coastlines, repelling some holidaymakers with the pungent stench emitted as it rots.

Precisely how to tackle it was a dilemma of unprecedented proportions for the tiny cluster of tourism-reliant islands with limited resources.

In 2018, Barbados’ Prime Minister, Hon.  Mia Mottley declared the sargassum situation a national emergency.  Now, a pioneering group of Caribbean scientists and environmentalists hope to turn the tide on the problem by transforming the troublesome algae into a lucrative biofuel.

They recently launched one of the world’s first vehicles powered by bio-compressed natural gas.  The innovative fuel source created at the University of the West Indies (UWI) in Barbados also uses wastewater from local rum distilleries, and dung from the island’s indigenous blackbelly sheep which provides the vital anaerobic bacteria.

The team says any car can be converted to run on the gas via a simple and affordable four-hour installation process, using an easily available kit, at a total cost of around $2,500 or £1,940.

Researchers had initially looked into using sugarcane to reduce reliance on costly, imported fossil fuels and help steer the Caribbean towards its ultimate target of zero emissions.

However, despite Barbados being one of few islands still producing sugarcane, the quantity was deemed insufficient for the team’s ambitious goals, explains the project’s founder Dr. Legena Henry.

Dr. Legena Henry grimaces as she points out that while some natural resources are limited, when it comes to the unwelcomed seaweed, she says sargassum is something “we will never run out of”.

“Tourism has suffered a lot from the seaweed; hotels have been spending millions on tackling it.  It’s caused a crisis,” Dr. Henry, a renewable energy expert and UWI lecturer, continues.

The idea that it could have a valuable purpose was suggested by one of her students, Brittney McKenzie, who had observed the volume of trucks being deployed to transport sargassum from Barbados’ beaches.

“We’d just spent three weeks researching sugarcane.  But I looked at Brittney’s face and she was so excited, I could not break her heart,” Dr. Henry recalls.

“We already had rum distillery wastewater, so we decided to put that with sargassum and see what happened.”

Brittney was tasked with collecting seaweed from beaches and setting up small scale bioreactors to conduct preliminary research.”  Within just two weeks we got pretty good results.  It was turning into something even bigger than we initially thought.”

The team filed a patent on their formula and, in 2019, presented their project to potential investors during a side meeting at the UN General Assembly in New York.

Upon touchdown back in Barbados, Dr. Henry’s phone was “buzzing” with messages of congratulations – including one from US non-profit Blue-Chip Foundation offering $100,000 to get the work off the ground.

Dr. Legena Henry

Biologist Shamika Spencer was hired to experiment with differing amounts of sargassum and wastewater to figure out which combination produced the most biogas.

She says she leapt at the chance to take part.  “Sargassum has been plaguing the region for several years,” Ms. Spencer, who is from Antigua and Barbuda, explains.  “I had always wondered about this new seaweed ruining the beaches in Antigua, and when I came to Barbados to study, I noticed it here too.”

The algae does not just threaten tourism.  They also pose a threat to human health through the hydrogen sulphide they release as they decompose, along with native wildlife like critically endangered sea turtle hatchlings which get trapped in thick mats of beached seaweed.

Water pollution and warming seas are credited with the upsurge in sargassum, another cataclysmic result of climate change that the Caribbean has done little to contribute to but often bears the brunt of.

Calls for eco reparations from leaders including Barbados’ leader Mia Mottley and Antigua’s Prime Minister Gaston Browne have been clamorous in recent years as the region battles ever-rising sea levels and worsening storms.

While waiting for those to bear fruit, this project represents one example of the Caribbean taking its environmental future into its own hands.

This past September, Rum & Sargassum, the Barbados-based start-up founded by Dr. Henry introduced the world to its brand of  RNG, Renewable Natural Gas.  The unveiling featured a vehicle rigged to run on the innovative cocktail of rum distillery wastewater, Blackbelly sheep manure and yes, that no longer pesky but valuable Sargassum seaweed.

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