Intensified debt relief could save economies, prevent defaults

Even before the onset of the COVID-19 pandemic, many developing countries were at high risk of debt distress. These risks have now materialized. Help has been extended with partial suspensions of debt service to 76 low-income countries, and the IMF has offered debt service relief to 25 of the poorest countries. But these actions do not cover commercial and multilateral debt. Nor do they protect middle-income countries. More action is urgently needed to avoid defaults.

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Governing in times of crisis

COVID-19 is changing life as we know it. It is also heavily impacting national institutions across the globe, disrupting the regular functioning of state bodies, such as parliaments and justice systems, while at the same time demanding their rapid response. The pandemic has affected whole institutional systems and the way public institutions interact with people. But national and international actors have stepped up to the plate, responding fast to these unprecedented challenges.

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Get involved

Keeping the momentum to #SaveOurOcean

The UN Ocean Conference in Lisbon has been postponed due to the COVID-19 crisis, but it’s no time to press snooze on ocean issues. In fact, the zoonotic coronavirus makes it clear that we must build our cities sustainably and avoid encroaching on wildlife habitats, to avoid increasing our risks for disease exposure.

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Expert voices

A vaccine will not end the pandemic unless everyone can get it

Nearly every day brings news of promising developments in the unprecedented global quest for a vaccine to COVID-19. Yet, finding an effective vaccine will not put an end to the pandemic unless countries can agree to cooperate on its development, production and distribution and ensure it is affordable and accessible to all, warns Sakiko Fukuda-Parr, Professor of International Affairs at The New School and Member of the UN Committee for Development Policy.

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In case you missed it

The COVID-19 pandemic unravels the world economy

As nearly 90 per cent of the global economy came under some form of lockdown in the second quarter, the world faces the grim prospect of the most severe recession since the Great Depression of the 1930s. The world output is projected to contract sharply by 3.2 per cent in 2020 with the pandemic disrupting global supply chains, depressing consumer demand and putting millions out of work. By 2021, cumulative output losses worldwide are expected to $8.5 trillion, wiping out nearly all gains of the previous four years.

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Upcoming Events

As a preventive measure amidst the coronavirus (COVID-19) pandemic, some of the high-level meetings organized by UN DESA
worldwide have been postponed or cancelled. Others are still being reviewed. Find out the latest information about the affected events:
UN DESA Calendar

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