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U.N. Secretary-General Antonio Guterres this week called for a “large-scale” international response to the global coronavirus crisis, consisting of 10 percent of global GDP — and promising that the U.N. is “fully mobilized” to support such an effort.
“What is needed is a large-scale, coordinated and comprehensive multilateral response amounting to at least 10 percent of global GDP,” he said in remarks at the launch of a report on the socioeconomic impacts of the virus.
The article goes on to state the following:
He called for fiscal and monetary policies that would support households, give health and unemployment insurance, social protection and support to businesses. He noted that a number of developed countries can implement such policies by themselves and are doing so already. The U.S. last week passed a $2 trillion stimulus package containing a number of such measures to support households and businesses through the crisis.
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