sign in sign up
<<
Home , Abiy Ahmed, President of Croatia, President of Estonia, President of Latvia, President of Moldova, President of Portugal

G20 Initiative

LETTER TO GOVERNMENTS OF THE G20 NATIONS

We are writing to call for immediate internationally coordinated action – within the next few days – to address our deepening global health and economic crises from COVID- 19.

The communique from the G20 Extraordinary Leaders’ Summit on March 26, 2020, recognized the gravity and urgency of the entwined public health and economic crises, but we now require urgent specific measures that can be agreed on with speed and at scale: emergency support for global health initiatives led by the World Health Organization (WHO) and emergency measures to restore the global economy. Both require world leaders to commit to funding far beyond the current capacity of our existing international institutions.

In 2008-2010, the immediate economic crisis could be surmounted when the economic fault line – under-capitalization of the global banking system – was tackled. Now, however, the economic emergency will not be resolved until the health emergency is effectively addressed: the health emergency will not end simply by conquering the disease in one country alone, but by ensuring recovery from COVID- 19 in all countries.

Global Health Measures

All health systems – even the most sophisticated and best funded – are buckling under the pressures of the virus. Yet if we do nothing as the disease spreads in poorer African, Asian, and Latin American cities and in fragile communities which have little testing equipment, ventilators, and medical supplies; and where social distancing and even washing hands are difficult to achieve, COVID-19 will persist there and re- emerge to hit the rest of the world with further rounds that will prolong the crisis.

World leaders must immediately agree to commit $8 billion – as set out by the Global Preparedness Monitoring Board – to fill the most urgent gaps in the COVID-19 response. This includes:

⚫ $1 billion this year urgently needed by WHO: This would enable WHO to carry out its critically important mandate in full. While it has launched a public appeal – 200,000 individuals and organizations have generously donated more than $100 million – it cannot be expected to depend on charitable donations.

⚫ $3 billion for Vaccines: The Coalition for Epidemic Preparedness Innovations (CEPI) is coordinating the global research effort to develop and scale up effective COVID-19 vaccines. In addition Gavi, the Vaccine Alliance will have an important role procuring and equitably distributing vaccines to the poorest countries and requires $7.4 billion for its replenishment: this should be fully funded.

1 G20 Initiative

⚫ $2.25 billion for Therapeutics: The COVID-19 Therapeutics Accelerator aims to deliver 100 million treatments by the end of 2020 and is seeking these funds to rapidly develop and scale-up access to therapeutics.

⚫ Instead of each country, or state or province within it, competing for a share of the existing capacity, with the risk of rapidly increasing prices, we should also be vastly increasing capacity by supporting the WHO in coordinating the global production and procurement of medical supplies, such as testing kits, personal protection equipment, and ITU technology to meet fully the worldwide demand. We will also need to stockpile and distribute essential equipment.

A further $35 billion will be required, as highlighted by WHO, to support countries with weaker health systems and especially vulnerable populations, including the provision of vital medical supplies, surge support to the national health workforce (70% of whom in many countries are underpaid women), and strengthening national resilience and preparedness. According to WHO, almost 30% of countries have no COVID-19 national preparedness response plans and only half have a national infection prevention and control program. Health systems in lower income countries will struggle to cope; even the most optimistic estimates from Imperial College London suggest there will be 900,000 deaths in Asia and 300,000 in Africa.

We propose the convening of a global pledging conference – its task supported by a G20 Task Force – to commit resources to meeting these emergency global health needs.

Global Economic Measures

Much has been done by national governments to counter the downward slide of their economies. But a global economic problem requires a global economic response. Our aim should be to prevent a liquidity crisis turning into a solvency crisis, and a global recession becoming a global depression. To ensure this, better coordinated fiscal, monetary, central bank, and anti-protectionist initiatives are needed. The ambitious fiscal stimuli of some countries will be all-the-more effective if more strongly complemented by all countries in a position to do so.

⚫ A wider group of central banks should be given access to the arrangements for currency swaps and the International Monetary Fund (IMF) should enter into swap arrangements with the major central banks. The IMF should use those hard currency resources and establish its own swap line facility to provide emergency financial support to emerging and developing nations. But it is vital that if we are to prevent mass redundancies, the guarantees that are being given in each country are rapidly followed through by banks via on-the-ground support for companies and individuals.

⚫ The emerging economies – and in particular those of the poorest countries – need special help, not the least in ensuring that support reaches all those affected by the drastic decrease in economic activity. The IMF has said it will mobilize all of its available resources. There should be an additional allocation of around $500- $600 billion in Special Drawing Rights (SDRs). At the same time, to ensure

2 G20 Initiative

sufficient funding for individual countries, we encourage IMF members to allow lending quota limits to be exceeded in countries most in need.

⚫ The World Bank and many of the regional development banks have recently been recapitalized, but more will be needed. It is likely that, as in 2009 when the International Bank for Reconstruction and Development’s (IBRD) spending alone went from $16 billion to $46 billion, it – and the regional development banks – will need a much larger expansion of available resources.

⚫ To meet its responsibilities for humanitarian aid, and for refugees and displaced people, whose plight is likely to become desperate, and for the UN Sustainable Development Goals, UN agencies have issued this week an immediate call for $2 billion of additional resources that are urgently needed.

⚫ The international community should waive this year’s poorer countries’ debt repayments, including $44 billion due from Africa, and consider future debt relief to allow poor countries the fiscal space to tackle the health and economic impact of the COVID-19 pandemic. We ask the G20 to task the IMF and the World Bank to further assess the debt sustainability of affected countries.

⚫ We agree with African and developing country leaders that given the existential threat to their economies, the increasing disruption to livelihoods and education and their limited capacity to cushion people and companies, that at least $150 billion of overall support will be needed for health, social safety nets, and other urgent help.

These allocations should be agreed to immediately, coordinated by a G20 Executive Task Force as part of the G20 Action Plan, and be confirmed in full at the upcoming IMF and World Bank meetings. The two core economic institutions should be given reassurances that additional bilateral funding will be forthcoming and the need for further capital injections agreed.

The longer-term solution is a radical rethink of global public health and a refashioning – together with proper resourcing – of the global health and financial architecture.

The , the governments of the G20 nations, and interested partners should work together to coordinate further action.

Signed,

Bertie Ahern Masood Ahmed Giuliano Amato of the Republic President of the Center for of Ireland (1997-2008) Global Development (1992-1993; 2000-2001)

Montek Singh Ahluwalia HE Dr Abdulaziz Altwaijri Mohamed Amersi Deputy Chairman of the Director General of the Founder & Chairman, The Planning Commission of Islamic Educational, Amersi Foundation India (2004-2014) Scientific and Cultural Organization (1991-2019)

3 G20 Initiative

Christine Allen, Director Dr Deus Bazira James Brendan Bolger Catholic Agency for Co-Director of the Center for Prime Minister of New Oversees Development Global Health Practice and Zealand (1990-1997) (CAFOD) Impact & Associate Professor of Medicine, Kjell Magne Bondevik Louise Arbour Georgetown University Prime Minister of Norway UN Special Representative Medical Center (1997-2000; 2001-2005)² for International Migration; UN High Commissioner for Dr K.Y. Amoako Lakhdar Brahimi Human Rights (2004-2008) President and Founder Minister of Foreign Affairs of African Center for Economic Algeria (1991-1993); UN & Óscar Arias Transformation (ACET) Arab League Envoy to Syria President of Costa Rica (2012-2014); Member of (2006-2010)² Marek Belka MEP The Elders Inger Ashing (2004-2005); Deputy Prime Gordon Brown CEO, Save the Children Minister & Minister of Prime Minister of the United International Finance (2001-2002); Kingdom (2007-2010) Director of European Shaukat Aziz Department, IMF (2008- Gro Harlem Brundtland Prime Minister of Pakistan 2010) Prime Minister of Norway (2004-2007)³ (1990-1996); Director Nicolas Berggruen General of the WHO (1998- Gordon Bajnai Chairman of the Berggruen 2003); Member of The Prime Minister of Institute³ Elders² Hungary (2009-2010) Professor Erik Berglöf John Bruton Jan Peter Balkenende Director of the Institute of Taoiseach of the Republic Prime Minister of the Global Affairs, London of Ireland (1994-1997)² Netherlands (2002-2010)² School of Economics; Chief Economist of the EBRD Felipe Calderón HE Joyce Banda (2006-2014) President of Mexico (2006- President of Malawi (2012- 2012)² 2014)² Sali Berisha (1992- Rafael Ángel Calderón Ehud Barak 1997); Prime Minister President of Costa Rica Prime Minister of Israel (2005-2013)¹ (1990-1994) (1999-2001) Sir Tim Besley Fernando Henrique Nicolás Ardito Barletta President of the Cardoso President of Panama (1984- International Economic President of Brazil (1995- 1985) Association (2014-2017); 2002)² Professor of Economics and José Manuel Barroso Political Science, LSE Hikmet Çetin Prime Minister of Minister of Foreign Affairs of (2002-2004); President of Carl Bildt Turkey (1991-1994)¹ the European Commission (2004-2014); Non-Executive (1991-1994); Minister for Laura Chinchilla Chairman of Goldman Foreign Affairs (2006-2014)² President of Costa Rica Sachs International² (2010-2014)² Valdis Birkavs Kaushik Basu Prime Minister of HE Joaquim Chissano President of the (1993-1994)² President of Mozambique International Economic (1986-2005)² Association; Chief Tony Blair Economist of the World Prime Minister of the United Helen Clark Bank (2012-2016) Kingdom (1997-2007) Prime Minister of New Zealand (1999-2008); UNDP Administrator (2009- 2017)²

4 G20 Initiative

Emil Constantinescu Mikuláš Dzurinda Royal Children’s Hospital Prime Minister of Slovakia and Centre for International (1996-2000)¹ (1998-2006); Minister of Child Health, University of Foreign Affairs (2010-2012) Melbourne Ertharin Cousin Executive Director of the Gareth Evans Bryan Grenfell OBE FRS Foreign Minister of Australia Kathryn Briger and Sarah (2012-2017) (1988-1996); President and Fenton Professor of Ecology CEO of International Crisis and Public Affairs, Princeton Herman De Croo Group (2000-2009) University President of the Chamber of Representatives of Belgium Professor Sir Jeremy Ameenah Gurib-Fakim (1999-2007)¹ Farrar President of Mauritius Director of the Wellcome (2015-2018)¹ Mirko Cvetković Trust Prime Minister of Sergei Guriev (2008-2012)¹ Joschka Fischer Chief Economist of the Minister of Foreign Affairs EBRD (2016-2019); Gavyn Davies and Vice Chancellor of Professor of Economics, Co-Founder & Chairman, Germany (1998-2005) Sciences Po Fulcrum Asset Management; Chief Justin van Fleet Alfred Gusenbauer Economist & Chairman of President (2000- Global Investment Dept, Theirworld 2008)² Goldman Sachs (1988- 2001); Chairman, BBC Franco Frattini Lucio Gutiérrez (2001-2004) Minister of Foreign Affairs of President of Ecuador (2003- Italy (2002-2004; 2008- 2005) Kemal Derviş 2011); European Minister of Economic Affairs Commissioner (2004-2008)¹ of Turkey (2001-2002); (2000- Administrator of UNDP 2012)² (2005-2009); Senior Fellow Prime Minister of Global Economy and (2015); Minister of Economy Ricardo Hausmann Development, Brookings and Infrastructure (2018- Minister of Planning of Institute 2019)¹ Venezuela (1992-1993); Professor at the Kennedy Ruth Dreifuss Ahmed Galal School of Government, President of the Swiss Finance Minister of Egypt Harvard Confederation (1999); (2013-2014) Member of the Swiss Federal Council (1993- Nathalie de Gaulle President of (2006- 2002) Chairwoman & Co-founder 2016) of NB-INOV; Founder of Dr Mark Dybul under 40¹ Edward C. Holmes Executive Director of the ARC Australian Laureate The Global Fund to Fight César Gaviria Fellow; Professor, AIDS, Tuberculosis and President of Colombia University of Sydney Malaria (2012-2017); Co- (1990-1994); Secretary- Director of the Center for General of the Organization Bengt Holmström Global Health Practice and of American States (1994- Nobel Laureate for Impact & Professor of 2004)² Economic Sciences (2016); Medicine, Georgetown Professor of Economics, University Medical Center Felipe Gonzalez MIT Dr Victor J. Dzau (1982-1996)³ Mo Ibrahim President of the National Founder of Celtel; Chairman Academy of Medicine Dr Hamish Graham of the Mo Ibrahim Consultant Paediatrician & Foundation³ Research Fellow at the

5 G20 Initiative

Ekmeleddin İhsanoğlu Ban Ki-Moon Secretary General of the UN Secretary General Professor Justin Yifu Lin Organization of Islamic (2007-2016); Deputy Chair Chief Economist & Senior Cooperation (2004-2014)¹ of The Elders² Vice-President of the World Bank (2008-2012); Dean of Dalia Itzik Frederik Willem de Klerk Institute of New Structural Interim President of Israel State President of South Economics, Peking (2007); President of the Africa (1989-1994) University Knesset (2006-2009)¹ Horst Köhler Tzipi Livni Mladen Ivanić Minister of Foreign Affairs of Member of the Presidency (2004-2010)² Israel (2006-2009); Minister of Bosnia and Herzegovina of Justice (2013-2014)¹ (2014-2018)¹ Prime Minister of (2009-2011)¹ (1997- President of North 2001)¹ Macedonia (2009-2019)¹ HE John Kufuor President of Ghana (2001- Nora Lustig Hina Jilani 2009) President Emeritus of the Advocate of the Supreme Latin American and Court of Pakistan; Member Chandrika Kumaratunga Caribbean Economic of The Elders President of Sri Lanka Association; Professor of (1994-2005)² Latin American Economics, Mehdi Jomaa Tulane University Prime Minister of Tunisia Luis Alberto Lacalle (2014-2015)² Herrera President of Graça Machel Uruguay (1990-1995)² Education & Culture Ivo Josipović Minister of Mozambique (2010- Ricardo Lagos (1975-1986); Deputy Chair 2015)¹ President of Chile (2000- of The Elders 2006); Member of the Dr Agnes Kalibata Elders² ³ Mauricio Macri President, Alliance for a President of Argentina Green Revolution in Africa Zlatko Lagumdzija (2015-2019) (AGRA) Foreign Affairs Minister of Bosnia and Herzegovina Giorgi Margvelashvili Mats Karlsson (2012-2015)² (2013- Vice President, External 2018)¹ Affairs at the World Bank Pascal Lamy (1999-2011)¹ Director-General of the Sir John Major World Trade Organization Prime Minister of the United Caroline Kende-Robb (2005-2013)³ Kingdom (1990-1997) Executive Director of the Africa Progress Panel Hong-Koo Lee Moussa Mara (2011-2017); Secretary Prime Minister of South Prime Minister of Mali General of CARE Korea (1994-1995)² (2014-2015)¹ International (2018-2020) Laurie Lee Paul Martin John Key CEO, CARE International Prime Minister of New UK (2003-2006)³ Zealand (2008-2016) Yves Leterme Péter Medgyessy HE Jakaya Kikwete Prime Minister of Belgium Prime Minister of Hungary President of Tanzania (2009-2011)² (2002-2004)¹ (2005-2015) Enrico Letta Rexhep Meidani Prime Minister of Italy President of Albania (1997- (2013-2014) 2002)¹ ²

6 G20 Initiative

Stjepan Mesić Prime Minister of Iveta Radičová President of Croatia (2000- Kyrgyzstan (2014-2015)¹ Prime Minister of Slovakia 2010)¹ ² (2010-2012)² Roza Otunbayeva Girish Menon President of Kyrgyzstan Jose Ramos Horta CEO, ActionAid UK (2010-2011)² President of East Timor (2007-2012)² HE Benjamin Mkapa Ana Palacio President of Tanzania Minister of Foreign Affairs of Òscar Ribas Reig (1995-2005)² Spain (2002-2004)¹ Prime Minister of Andorra (1990-1994)² Mario Monti Sir Geoffrey Palmer Prime Minister of Italy Prime Minister of New (2011-2013)³ Zealand (1989-90); Chair of (19990- the New Zealand Law 1997); UN High Amre Moussa Commission (2005-2010) Commissioner for Human Secretary General of the Rights; Chair of the Elders² Arab League (2001-2011); George Papandreou Minister of Foreign Affairs of Miguel Ángel Rodríguez Egypt (1991-2001)¹ (2009-2011)¹ President of Costa Rica (1998-2002) Amanda Mukwashi Andrés Pastrana CEO, Christian Aid President of Colombia Dani Rodrik (1998-2002)² President-Elect of the Joseph Muscat International Economic P. J. Patterson Association; Professor of (2013-2020)¹ Prime Minister of Jamaica International Political (1992-2005)² Economy, Harvard Dawn Nakagawa University Executive Vice President, Sir Christopher Pissarides Berggruen Institute Nobel Laureate for Petre Roman Economic Sciences (2010); Prime Minister of Romania Andrew Natsios Professor of Economics & (1989-1991)² Executive Professor, Bush Political Science, LSE School of Government & Kevin Rudd Public Service; Romano Prodi Prime Minister of Australia Administrator of USAID Prime Minister of Italy (2007-2010; 2013)³ (2001-2006) (2006-2008); President of Bujar Nishani the European Commission President of Albania (2012- (1999-2004) (1996- 2017)¹ 2006)² Jan Pronk Gustavo Noboa Minister for Development Julio Maria Sanguinetti President of Ecuador (2000- Cooperation, The President of Uruguay (1985- 2003) Netherlands (1989-1998); 1990; 1995-2000)² Professor Emeritus at the Chief Olusegun Obasanjo International Institute of President of Nigeria (1999- Social Studies, The Hague President of Colombia 2007) (2010-2018); Nobel Peace Jorge Quiroga Prize Laureate (2016); Dr Ngozi Okonjo-Iweala President of Bolivia (2001- Member of The Elders Board Chair of the Global 2002)² Alliance for Vaccines and Immunisation; Finance Zeid Raad al Hussein Laureate Minister of Nigeria (2011- UN High Commissioner for (2014); Founder of Bachpan 2015) Human Rights (2014-2018); Bachao Andolan, Global Member of the Elders March Against Child Labour Lord Jim O'Neill & Global Campaign for Chair of Education Djoomart Otorbayev

7 G20 Initiative

Wolfgang Schüssel Economic Sciences (2001); Cassam Uteem Chancellor of Austria (2000- Professor, Columbia President of Mauritius 2007) University³ (1992-2002)²

Ismail Serageldin Petar Stoyanov Andrés Velasco Vice President of the World (1997- Finance Minister of Chile Bank (1992-2000); Co-Chair 2002)¹ (2006-2010); Dean of the of NGIC School of Public Policy, LSE Professor John Sexton Guy Verhofstadt President Emeritus, New (2014-2016)¹ Prime Minister of Belgium York University; President (1999–2008) (2002-2015); Dean, NYU Federico Sturzenegger School of Law (1988-2002) President of the Central Vaira Vīķe-Freiberga Bank of Argentina (2015- (1999- Dame Jenny Shipley 2018); Professor, 2007)¹ Prime Minister of New Universidad de San Andrés Zealand (1997-1999)² Tim Wainwright Hanna Suchocka CEO HE Prime Minister of Poland WaterAid UK President of Liberia (2006- (1992-1993)² 2018); Member of The Leonard Wantchekon Elders Lawrence Summers Founder & President of the Javier Solana - Secretary United States Secretary of African School of General of the Council of the Treasury (1999-2001); Economics; Professor of the EU (1999-2009); Deputy Secretary of the Politics and International Secretary General of NATO Treasury (1995-1999); Chief Affairs, Princeton University (1995-1999)² Economist of the World Bank (1991-1993); Director Kevin Watkins George Soros of the National Economic CEO, Save the Children UK Founder & Chair of the Council (2009-2010)³ Open Society Foundations Shang-Jin Wei Michael Spence - Nobel Boris Tadić Chief Economist of the Laureate for Economic (2004- Asian Development Bank Sciences (2001); William R. 2012)¹ (2014-2016); Professor of Berkley Professor in Chinese Business and Economics & Business, Jigme Y. Thinley Economy & Finance and NYU³ Prime Minister of Bhutan Economics, Columbia (2008-2013)² Business School Devi Sridhar Professor of Global Public Helle Thorning-Schmidt Dr Rowan Williams Health, University of Prime Minister of Denmark Archbishop of Canterbury Edinburgh (2011-2015)³ (2002-2012); Chair of Christian Aid Dr Danny Sriskandarajah Eka Tkeshelashvili CEO, Oxfam Deputy Prime Minister of James Wolfensohn Georgia (2010-2012)¹ President of the World Bank Lord Nicholas Stern (1995-2005) Chief Economist & Senior Jean-Claude Trichet Vice-President of the World President of the European George Yeo Bank (2000-2003); Chief Central Bank (2003-2011); Minister for Foreign Affairs Economist of the EBRD Governor of the Bank of of Singapore (2004-2011)³ (1994-1999) & Professor of France (1993-2003) Economics and Government, LSE Danilo Türk Nobel Peace Prize Laureate President of (2007- (2014) Joseph Stiglitz 2012); President of WLA Chief Economist of the Club de Madrid Kateryna Yushchenko World Bank (1997-2000); of Ukraine (2005- Nobel Laureate for 2010)¹

8 G20 Initiative

Viktor Yushchenko Ernesto Zedillo (2005- President of Mexico (1994- 2010) 1 2000); Member of The Elders²³ José Luis Rodríguez Zapatero Min Zhu Prime Minister of Spain Deputy Managing Director (2004-2011) of the International Monetary Fund (2011- 2016)³

We are also grateful for the support from:

Dr Abiy Ahmed, Prime Minister of HE Julius Maada Bio, President of Sierra Leone Sheikh Hasina, Prime Minister of Bangladesh Ken Ofori-Atta, Finance Minister of Ghana and Chair of the World Bank Development Committee

1 Member of Nizami Ganjavi ² Member of WLA Club de ³ Member of the Berggruen International Center (NGIC) Madrid Institute 21st Century Council

9