The potential longer-term effects on the global economy and those of individual countries are dire. In a new report, Shared responsibility, global solidarity: Responding to the socio-economic impacts of COVID-19, the United Nations Secretary-General calls on everyone to act together to address this impact and lessen the blow to people.
The report describes the speed and scale of the outbreak, the severity of cases, and the societal and economic disruption of COVID-19, which has so far claimed the lives of 33 257 people, with 697 244 confirmed cases in 204 countries, areas and territories1.
“COVID-19 is the greatest test that we have faced together since the formation of the United Nations,” said António Guterres, Secretary-General of the United Nations. “This human crisis demands coordinated, decisive, inclusive and innovative policy action from the world’s leading economies – and maximum financial and technical support for the poorest and most vulnerable people and countries.”
The report comes after the IMF has announced that the world has entered into a recession as bad or worse than in 2009. The report calls for a large-scale, coordinated and comprehensive multilateral response amounting to at least 10 percent of global GDP.
The United Nations system—and its global network of regional, sub-regional and country offices working for peace, human rights, sustainable development and humanitarian action, will support all governments and partners through the response and recovery.
To that end, the Secretary-General has established a dedicated COVID-19 Response and Recovery Fund to support efforts in low- and middle-income countries. Its approach underpins the reformed UN with a coordinated multi-agency, multi-sectoral response for priority national and local actions to address the socio- economic impact of the COVID-19 crisis. It will count on the country leadership of Resident Coordinators and UN Country Teams in swiftly supporting and enabling governments in this crisis, and recovery.