Economic Development and Development Finance

Secretary-General António Guterres issued a three-point global “Call to Action” on Thursday to cushion the colossal fallout from the COVID-19 pandemic, pressing Governments to unify around a defining moment in history, as the new session of the UN’s Financing for Development Forum got underway. 

Economists and finance experts are warning that countries with “high” or “distressed” public debt levels are at risk of severe economic shocks amid the COVID-19 pandemic and calling for restructuring plans based on the principle of solidarity.