“Grand Confinement” is the name of the 2020 crisis

“Grand Confinement” is the name of the 2020 crisis

Covid-19 will spread poverty after death

The Covid-19 pandemic also poses the risk of even more poor people in the world: half a billion additional people, between 6 and 8% of the planet’s population, could fall into poverty if plans support is not quickly implemented. It is the NGO Oxfam which launches this cry of alarm, and demands three flagship measures. First, the immediate cancellation of debt payments for developing countries worth $ 1 trillion in 2020. For example, says Oxfam, the cancellation of Ghanas external debt payments in 2020 would allow the government to make a cash donation of $ 20 per month to each of the country’s 16 million children, people with disabilities and the elderly for a period of six months. Second, the creation of at least $ 1 trillion in new IMF international reserves, called special drawing rights, to significantly increase the funds available to countries. This would allow the Ethiopian government to access an additional $ 630 million, which would be enough to increase health care spending by 45%. Finally, to provide the $ 2.5 trillion that the United Nations considers necessary to help developing countries cope with the pandemic, additional aid of $ 500 billion would also be needed, including to strengthen the public health systems of poor countries and $ 2 billion for the United Nations humanitarian fund. Oxfam calls for the creation of emergency solidarity taxes by taxing extraordinary profits, the greatest fortunes, speculative financial products and activities having a negative impact on the environment. The effects of the coronavirus could constitute a decline of ten years in the fight against poverty, and even 30 years in certain regions such as in sub-Saharan Africa, the Middle East or North Africa. The coronavirus threatens the planet with an unprecedented economic disaster, never seen since 1929.



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