By Bola Olajuwon, Assistant Editor
A GROUP of 165 international groups, including 92 former and current presidents and prime ministers, has demanded for the creation of a G-20 executive task force and an immediate global pledging conference to contain the health and economic crises caused by the Covid-19 pandemic.
The economic and health leaders from the developed and developing countries said the pledging conference would approve and co-ordinate $8 billion emergency global health funding, among others, to prevent second wave of coronavirus.
The open letter was signed by three British Prime Ministers – Gordon Brown, Tony Blair and John Major – former president of the European Central Bank Jean-Claude Trichet, former Australian Prime Minister Kevin Rudd, former Archbishop of Canterbury Rowan Williams, former United Nations (UN) Secretary-General Ban Ki-Moon, financier George Soros and Nobel Prize Winner in Economic Joseph Stiglitz.
Others include founder of Celtel and Chairman of Mo Ibrahim Foundation Mo Ibrahim; ex-President Olusegun Obasanjo; former President of Liberia Ellen Johnson-Sirleaf; ex-Ghana President John Kufuor; ex- Mozambique Education & Culture Minister Graça Machel and Board Chair of the Global Alliance for Vaccines and Immunisation Dr. Ngozi Okonjo-Iweala.
The leaders were also supported by Ethiopia Prime Minister Dr. Abiy Ahmed, Sierra Leone President Julius Maada Bio and Ghana Finance Minister and Chair of the World Bank Development Committee Ken Ofori-Atta.
The letter said in addition to the $8 billion of emergency health spending, developing countries would need $150 billion to fight the medical and economic challenges.
The leaders, who were joined by academics and civil society representatives, warned the G-20 that the virus will return unless urgent action is taken to bolster health systems in poor countries of Africa and Latin America.
The statement also sought for debt interest payments of poorest countries to be waived now, adding that global fiscal co-ordination essential to avoid recession becoming depression.
The leaders warned that without rapid support, 1.2 million covid-19 deaths are possible in Africa and Asia’s poorest countries amid danger of igniting second round of disease in rest of the world.
The statement argued the need to race for vaccine, cure, test kits, ventilators and protective equipment for health workers as well as enhanced co-operation and concerted global push to increase capacity
“The economic emergency will not be resolved until the health emergency is 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,” the statement said.
The leaders demanded $35 billion to support health systems, purchase ventilators, test kits and protective equipment for health workers; $ 150 billion for developing countries to fight the medical and economic crisis, prevent a second wave of the disease flowing back into countries as they come out of the first wave.
“This means waiving debt interest payments for the poorest countries, including $44 billion due this year from Africa. A $500- $600 billion issue of additional resources by the IMF in the form of special drawing rights is proposed, “the statement added.
The letter also urged the co-ordination of fiscal stimuli to avoid a recession becoming a depression.
Welcoming the G20’s first communique on the Covid-19 crisis, the 165-strong groups are pressing the G20 to speed up an action plan.
The statement reads: “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 $1billion this year for WHO, $3 billion for vaccines and $2.25 billion for 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.
“$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.
They proposed the convening of a global pledging conference to commit resources to meeting emergency global health needs.
