By Dr. Nasser Saidi, Economist and former Minister of Economy and Industry of Lebanon
Since October 2019, Lebanon has been in the throes of a historically unprecedented economic and financial meltdown, simultaneously facing a humanitarian crisis, a debt crisis, a banking crisis, a currency crisis, and a balance of payments crisis. The numbers are staggering. Real GDP has declined for the fourth consecutive year by a cumulative 45% since 2018 making it the second most severe financial crisis in history. The Lira has lost 90% of its value, annual inflation is running at 150% and an 80% de facto haircut has been imposed on deposits.
By Martin Wagner, Senior Policy Advisor Asylum, ICMPD, Caitlin Katsiaficas, Policy Analyst, ICMPD, and Benjamin Etzold, Senior Researcher, BICC
This year, we celebrate 70 years since the 1951 Geneva Refugee Convention was signed. While the Convention has aged relatively well since its inception and has remained relevant for so long, global developments have left their mark. Ever more protracted, mostly internal, conflicts make true solutions for displaced people scarce. As a consequence, UNHCR has sounded the alarm on the growing numbers of displaced persons, virtually every year for the past decade, on the occasion of World Refugee Day (20 June). As expected, the 2020 figures presented at this year’s world refugee day were no different.
By Mario Pezzini,formerDirector of the OECD Development Centre & Special Advisor to the OECD Secretary General on Development and Alexander Pick, Head of Unit, New Development Policies and Institutions, OECD Development Centre
The COVID-19 crisis is an opportunity for humanity to chart a new course and for societies to build forward better. The pandemic has shown that there is a need for change. However, as the new edition of Perspectives on Global Development warns, relying on the same voices, the same institutions and the same mind-sets that prevailed prior to this crisis to answer these questions is unlikely to produce an equitable, inclusive and sustainable recovery. A surge in discontent prior to the pandemic demonstrated that these approaches were failing billions of people around the world, as well as generations not yet born.
By Paola Simonetti, Deputy Director, Economic and Social Policy Department, ITUC
“People are no longer coming to the kiosk to buy tea since the pandemic outbreak started. I am the breadwinner of a family of nine. On many days I don’t earn a single shilling and return home empty handed”. This is the story of Jamila, a tea kiosk holder in Mogadishu, Somalia. Her story is also the story of around 2 billion informal workers worldwide who have been left to cope with the crisis on their own.
Although we have talked about inequality and sustainability in Brazil for a long time (we held the Rio de Janeiro Earth Summit in 1992 and the first World Social Forum in 2001 in Porto Alegre), the COVID-19 pandemic struck us in the middle of a “quasi” economic crisis, a declining Gini Index and increasing evidence of biomass destruction in Brazil’s Pantanal, Mata Atlântica and Amazonia forests.1
By Martha Chen, Senior Advisor, WIEGO and Lecturer in Public Policy, Harvard Kennedy School, Laura Alfers, Director, Social Protection, WIEGO and Research Associate, Rhodes University, andSophie Plagerson, Visiting Associate Professor, Centre for Social Development in Africa,University of Johannesburg
Calls to renew the social contract have proliferated in recent years as the “standard” employer-employee relationship has ceased to be the norm, while traditional forms of informal employment persist and informalisation of once formal jobs is on the rise.1 However, there is a mismatch globally between traditional social contract models based on assumptions of full (male and formal) employment and the world of work today in which informal workers, both self- and wage employed, constitute over 60 per cent of the global workforce. Can the call for a new social contract really help to achieve greater recognition and a more level playing field for informal workers?
Las medidas de contención necesarias contra el COVID-19 han generado una crisis económica mundial sin precedentes, combinando choques por el lado de la oferta y de la demanda. Ahora, la pandemia está afectando a América Latina y el Caribe y los países se están preparando para el efecto multiplicador que tendrá en la región. Tan solo unos meses antes, a finales de 2019, muchos países de la región tuvieron una ola de protestas masivas impulsadas por un profundo descontento social, aspiraciones frustradas, vulnerabilidad persistente y creciente pobreza. Esta crisis exacerbará estos problemas.
By Alfredo Suárez Mieses, Secretary-General, Central American Social Integration Secretariat (SISCA), and Gabriela A. Ramírez Menjívar, Head of the Multidimensional Poverty, Human Capital Development and Social Protection Area- SISCA
This blog is part of a series on tackling COVID-19 in developing countries. Visit the OECD dedicated page to access the OECD’s data, analysis and recommendations on the health, economic, financial and societal impacts of COVID-19 worldwide.
The COVID-19 pandemic is causing an unprecedented health, economic and social crisis that threatens to leave a deeply negative mark in the SICA region (Central America and Dominican Republic), particularly on employment, poverty, and inequality levels. The depth of the impacts will depend on multiple factors, including the duration of the pandemic, the public policy responses to contain and control it, a country’s economic structure, the strength of its health and social protection systems, and its level of vulnerability to global dynamics. Social protection is a crucial tool to minimize the costs of the crisis; it is also a crucial investment to make the recovery stronger and more inclusive, thus more sustainable.
La pandémie de Covid-19 menace de submerger les systèmes de santé partout dans le monde. Le virus est désormais présent dans 52 pays africains. Les systèmes de santé de la région pourront-ils faire face, alors que beaucoup étaient déjà sous pression avant la pandémie et n’ont pas de capacité de réserve ? Un soutien international sera crucial pour aider les pays africains à réagir, mais les efforts pour renforcer les services de santé de la région à court terme se heurtent à une série d’obstacles qui vont au-delà du secteur de la santé lui-même. Même une crise de cette ampleur ne doit pas occulter les priorités à long terme des systèmes de santé africains : y répondre est essentiel non seulement pour renforcer leur capacité à gérer les besoins quotidiens, mais aussi pour faire face à la prochaine crise. Continue reading “Le COVID-19 en Afrique : Comment les systèmes de santé peuvent-il faire face ?”
The necessary containment measures against COVID-19 have engendered an unprecedented global economic crisis, combining supply and demand side shocks. Now, the pandemic is affecting Latin America and the Caribbean (LAC) and countries are bracing for the ripple effects. Just months ago, many countries in the region experienced a wave of mass protests driven by deep social discontent, frustrated aspirations, persistent vulnerability and growing poverty. The crisis will exacerbate these problems.