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STORY: UN / FINANCING 2030 AGENDA SDGS COVID-19
TRT: 3:54
SOURCE: UNIFEED
RESTRICTIONS: NONE
LANGAUGE: ENGLISH / FRENCH / NATS
DATELINE: 8 SEPTEMBER 2020, NEW YORK CITY / FILE
FILE-RECENT-NEW YORK CITY
1.Wide shot, exterior United Nations
8 SEPTEMBER 2020, NEW YORK CITY
2.Multiscreen
3.SOUNDBITE (English) Kristalina Georgieva, Managing Director, International Monetary Fund (IMF):
“Last but not least, we need to recognize that this crisis is telling us that we have to build resilience for the future by investing in education and digital capacity everywhere in human capital, the health systems, the social protection systems in countries, by making sure that the other crises in front of us like the climate crisis are well integrated, and last but definitely not least by preventing inequalities and poverty raising their ugly heads again.”
4.Multiscreen
5.SOUNDBITE (English) Kristalina Georgieva, Managing Director, International Monetary Fund (IMF):
“For developing economies, for emerging markets with weaker fundamentals, we have to boost financing available to them, all of us. For us at the Fund, it means we are expanding the use existing SDRs in the advanced economies shifting them towards developing economies so that they can rely on strong financing capacity at the IMF on concessional terms.”
6.Multiscreen
7.SOUNDBITE (English) Kristalina Georgieva, Managing Director, International Monetary Fund (IMF):
“We have to be mindful of debt levels that are high in many emerging and developing economies to a point of suffocating their capacity to act. We have the debt service suspension initiative, a great achievement, it has to be extended, both the World Bank and us are calling for one year extension and we are calling for private sector’s participation on a scale that matches what official creditors are doing.”
8.Multiscreen
9.SOUNDBITE (French) Chrystia Freeland, Deputy Prime Minister and Minister of Finance, Canada:
“A robust global effort is necessary to put an end to COVID-19, to tackle the consequences that the pandemic has reached across the world both in terms of health, social welfare and the economic wellbeing. We can only overcome this challenges together. We are all feeling the effects of the pandemic, and its potential effects on health and economy, but more particularly LDCs are feeling these effects more acutely and they don’t have the necessary resources to adopt widespread economic recovery measures.”
10.Multiscreen
11.SOUNDBITE (English) Nigel Clarke, Minister of Finance and the Public Service of Jamaica:
“The need for the global community to mount an urgent, effective and coordinated response has increased, not diminished. While we are all effected, certain regions are more exposed and need urgent support - the tourism dependent and moderate to highly indebted economies of the Caribbean, other small islands developing states as well as many low income countries have borne the brunt of the social and economic impact of this pandemic. An external shock of this magnitude has obvious credited implications, which will be more acute in developing countries that encountered the crisis with high debt burdens, low level of foreign exchange reserves and large current account deficits.”
12. Multiscreen
The COVID-19 pandemic told us that “we have to build resilience for the future by investing in education and digital capacity everywhere in human capital, the health systems, the social protect systems in countries, by making sure that the other crises in front of us like the climate crisis are well intergraded, and last but definitely not the least by preventing inequalities and poverty raising their ugly heads,” said Kristalina Georgieva, chief of the International Monetary Fund (IMF).
Speaking at the Ministers of Finance on Financing the 2030 Agenda for Sustainable Development in the Era of COVID-19 and Beyond today (8 Sep) via video link, Georgieva noted that the Fund is seeing some signs of recovery in the world economy, some advanced economy is doing less bad than they anticipated in the previous outlook.
However, the Managing Director said that the recovery is only partial and it is uneven. She said, “for developing economies, for emerging markets, we have to boost financing available to them, all of us.”
At IMF, she said that it means “we are expanding the use existing SDRs in the advanced economies shifting it towards developing economies so that they can rely on strong financing capacity at the IMF on concessional terms.”
The Managing Director also said, “we have to be mindful of debt levels that are high in many emerging and developing economies to a point of suffocating their capacity to act.”
She continued, “we have the debt service special initiative, a great achievement, it has to be extended, both the World Bank and us are calling for one year of extension and we are calling for private sector’s participation on a scale that matches what official creditors are doing.”
Also speaking at the meeting was Chrystia Freeland, Candian Deputy Prime Minister and Minister of Finance. She said, “a robust global effort is necessary to put an end to COVID-19, to tackle the consequences that the pandemic has reached across the world both in terms of health, social welfare and the economic wellbeing.”
The Minister of Finance continued, “we can only overcome this challenges together. We are all feeling the effects of the pandemic, and its potential effects on health and economy, but more particularly LDCs are feeling these effects more acutely and they don’t have the necessary resources to adopt widespread economic recovery measures.”Jamaican Minister of Finance and the Public Service Nigel Clarke also spoke at the meeting. He said, “the need for the global community to mount an urgent, effective and coordinated response has increased, not diminished.”
Clarke continued, “while we are all effected, certain region is more exposed and need urgent support - the tourism dependent and moderate to high in debt economy of the Caribbean, other small islands developing states as well as many low income countries have beared the brunt of the social and economic impact of this pandemic.”
He noted that “the external shock of this magnitude has obvious credited implications, which will be more acute in developing countries that encountered the crisis with high debt burdens, low level of foreign exchange reserves and large current account deficits.”
