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COVID-19, deuda pública y sistemas de salud en el sur global

Daniel Munevar

06 Apr 2020 16:57:22

COVID-19, deuda pública y sistemas de salud en el sur global El costo humano y económico de la crisis causada por COVID-19 es un claro recordatorio de la fragilidad de nuestra sociedad globalizada. La capacidad de los países para contener la pandemia se define por su capacidad para proporcionar protección efectiva a los más vulnerables. Hasta ahora, cerca del 80 por ciento de los casos confirmados de COVID-19 han sido reportados en Estados Unidos, la Unión Europea y China. La mayoría de estos países tienen sistemas avanzados de atención médica con los recursos necesarios para enfrentar los desafíos que plantea la pandemia. Desafortunadamente, no se puede decir lo mismo de la gran mayoría de los países del sur global. Según la OMS, estos países cuentan con sistemas de salud ...

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What is the role of ODA in tackling the corona crisis?

Jan Van de Poel

06 Apr 2020 16:12:17

The world is facing an unprecedented crisis. As COVID-19 spreads  across the globe it threatens to disproportionately hit developing countries. COVID-19 does not only threaten  people in developing countries with a health crisis, it also risks plunging two-thirds of the world’s population living in developing countries outside China into a prolonged situation of deepened economic and social vulnerability and poverty. As international institutions and CSOs are putting forward policy responses to these multiple crises, this blog explores the role of official development assistance to deal with ‘the worst crisis since the 2nd World War’, according to UN Secretary General Antonio Guterres. According to the World Health Organisation, at least half of the world’s 7.6 billion ...

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Debt relief must deliver on ambitions

The IMF and WB are calling on the G20 to support debt relief for impoverished countries in the face of the COVID-19 outbreak. But the institutions must break with the past to ensure debt relief fulfils its purpose. The COVID-19 pandemic is an exceptional crisis and potentially implies devastating legacy impacts for many impoverished countries. Global policy responses to deal with the economic fallout must therefore break with precedent and also ensure a reinforcement of longer-term development priorities. The call for a moratorium on official bilateral debt by the Bretton Woods Institutions is welcome, and could be a significant measure in securing fiscal breathing space for countries battling against the consequences of the COVID-19 outbreak. But for some countries, such a standstill may not ...

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COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis I

Daniel Munevar

26 Mar 2020 12:44:49

This is the first part of a blog series covering the impact of COVID-19 on vulnerable countries in the global south. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires in the global south. Part 3 highlights the degree of vulnerability of countries in the global south to the COVID-19 pandemic. Part 4 provides a discussion on policy responses to tackle the risks posed by the pandemic.  Download the methodological annex here The human and economic toll of COVID-19 is a stark reminder of the fragility of our globalised society. Countries’ ability to contain the outbreak across borders is being defined by their capacity to provide effective protection to the most vulnerable. Until now, more than 98 per cent of ...

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Lebanon’s sovereign default: Turning misfortunes into opportunities

Admin

20 Mar 2020 14:46:32

This is a guest blog on behalf of the Arab NGO Network for Development (ANND) by Dr Hassan Sherry, Adjunct Lecturer, Department of Economics, Lebanese American University A crisis unfolds For the first time in its one hundred year history,  Lebanon has defaulted on its debt after its government opted not to repay a US$ 1.2 billion Eurobond that reached maturity on 9 March. Although it can be difficult to predict sovereign defaults, the decision comes as no surprise. Lebanon has been marching down an unsustainable economic path for almost a decade now.  Prime Minister Hassan Diab put the country's total public debt at approximately US$ 90 billion or 170 per cent of GDP – the world’s largest debt-to-GDP ratio after Japan and Greece. The unsustainable debt figures are attributed ...

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COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis IV

Daniel Munevar

19 Mar 2020 12:06:46

Prepared by Daniel Munevar and Mark Perera This is the fourth part of a blog series covering the impact of COVID-19 on vulnerable countries in the global south. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires in the global south. Part 3 highlights the degree of vulnerability of countries in the global south to the COVID-19 epidemic. Part 4 provides a discussion on policy responses to tackle the risks posed by the epidemic.  COVID-19 poses a serious set of threats to Low-Income Economies (LIEs). The most vulnerable in the global south will require substantial support from the international community to tackle the public health and economic risks posed by the epidemic. As we touched upon in the previous ...

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Using the debt crisis to advance donor-driven economic policies: The case of Ghana

Gino Brunswijck

17 Mar 2020 12:38:11

On International Women’s Day several Ghanaian CSOs took a stand for improving gender equality in the labour market, education and health services. For example, health CSOs underlined in a manifesto presented to a Minister that “gender inequality still exists in health service delivery, and women’s rights are continuously being infringed on, as they include those living with disabilities and mental health issues lack access to quality health care”. However, Ghana will have to address these challenges while its debt is snowballing.  A growing body of research shows how, in the previous decade external debt service has grown dramatically in low- and middle-income countries, diverting public resources away from essential services such as health and education. At the same time, ...

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COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis III

Daniel Munevar

16 Mar 2020 11:55:35

This is the third part of a blog series covering the impact of COVID-19 on vulnerable countries in the global south. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires in the global south. Part 3 highlights the degree of vulnerability of countries in the global south to the COVID-19 epidemic. Part 4 provides a discussion on policy responses to tackle the risks posed by the epidemic.  Eurodad analysis of the interplay between health, trade and financial factors shows the high degree to which countries in the global south are vulnerable to a systemic crisis. Within a sample of 69 LIEs, it is estimated that at least 84 per cent have vulnerable health care systems (58 countries)1 ; 80 per cent present trade vulnerabilities ...

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COVID-19 and debt in the global south: Protecting the most vulnerable in times of crisis II

Daniel Munevar

13 Mar 2020 12:58:41

This is the second part of a blog series covering the impact of COVID-19 on vulnerable countries in the Global South. Part 1 analyses the impact of debt burdens on health services. Part 2 discusses how the economic crisis will affect countires in the global south. Part 3 highlights the degree of vulnerability of countries in the global south to the COVID-19 epidemic. Part 4 provides a discussion on policy responses to tackle the risks posed by the epidemic. Download the methodological annex here Healthcare challenges posed by COVID-19 to countries in the global south are heightened by economic factors. Even if these countries manage to avoid large outbreaks, they will still be exposed to the economic fallout of the epidemic, putting them at risk of a debt crisis. Available estimates suggest ...

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A call to action for CSOs: Stop the new debt crisis from derailing women’s rights

Iolanda Fresnillo

09 Mar 2020 10:18:20

Iolanda Fresnillo, Eurodad and Verónica Serafini, LATINDADD This blog outlines the serious barriers women are facing due to the unfurling debt crisis in the global south. As debt payments increase, resources are diverted from public services investments and towards the outsourcing and privatisation of these services. This poses a threat to women’s rights and equality. CSOs across the world can help tackle this injustice, but, as this blog states, a greater gender focus for our actions is essential.  An unfurling debt crisis The last decade has seen an unprecedented increase in debt levels globally, including in the global south. This new “wave of debt” is – according to the World Bank - “the largest, fastest and most broad-based increase in debt” we’ve witnessed in “emerging ...