Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt joins Advanced Breast Cancer Global Alliance as health expert wins seat    Egypt, Uzbekistan explore renewable energy investment opportunities    Singapore's Destiny Energy to build $210m green ammonia facilities in Egypt's SCZONE    Egyptian pound gains slightly against dollar in early Wednesday trade    Tensions escalate in Gaza as Israeli violations persist, humanitarian crisis deepens    Egypt's ICT sector a government priority, creating 70,000 new jobs, says PM    Egypt's SCZONE, China discuss boosting investment in auto, clean energy sectors    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    LLC vs Sole Establishment in Dubai: Which is right for you?    French court grants early release to former President Nicolas Sarkozy    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Egypt's Al-Sisi, Russian security chief discuss Gaza, Ukraine and bilateral ties    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Egypt's private medical insurance tops EGP 13b amid regulatory reforms – EHA chair    400 children with disabilities take part in 'Their Right to Joy' marathon    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Hungary, Egypt strengthen ties as Orbán anticipates Sisi's 2026 visit    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



UN chief urges wealth tax of those who profited during COVID
Published in Ahram Online on 13 - 04 - 2021

Secretary-General Antonio Guterres declared Monday that the world's failure to unite on tackling COVID-19 created wide inequalities, and he called for urgent action including a wealth tax to help finance the global recovery from the coronavirus.
The U.N. chief said latest reports indicate that ``there has been a $5 trillion surge in the wealth of the world's richest in the past year'' of the pandemic. He urged governments ``to consider a solidarity or wealth tax on those who have profited during the pandemic, to reduce extreme inequalities.''
Guterres' call followed an appeal in October by U.N. World Food Program Executive Director David Beasley to the more than 2,000 billionaires in the world, with a combined net worth of $8 trillion, to open their bank accounts. He warned in November that 2021 would be worse than 2020, and without billions of dollars ``we are going to have famines of biblical proportions in 2021.''
Guterres told the U.N. Economic and Social Council's Forum on Financing for Development that since the pandemic began ``no element of our multilateral response has gone as it should.``
He pointed to more than 3 million deaths, increasing coronavirus infections, the worst recession in 90 years, some 120 million people falling back into extreme poverty, and the equivalent of 255 million full-time jobs lost.
``Advancing an equitable global response and recovery from the pandemic is putting multilateralism to the test,'' he said. ``So far, it is a test we have failed.``
``The vaccination effort is just one example,'' Guterres said, stressing that just 10 countries account for around 75% of global vaccinations and many countries haven't even started vaccinating their health care workers and most vulnerable citizens.
``Some estimates put the global cost of unequal access and vaccine hoarding at more than $9 trillion,'' he said.
The lack of global solidarity also means that while some countries have mobilized trillions of dollars for COVID-19 relief for their citizens, ``many developing countries face insurmountable debt burdens'' and face an impossible choice of servicing debt or saving lives, the secretary-general said.
Guterres called for urgent action to make vaccines available to everyone, everywhere; to not only help developing countries but middle-income countries in distress. He said debt payments should be suspended beyond the end of the year into 2022 and the international community needs to tackle the roots of the global debt crisis. He said there also must be investment ``in education, decent and green jobs, social protection and health systems.''
While the pandemic remains the immediate challenge, climate change can't be ignored, Guterres said.
He again urged countries to deliver on the $100 billion annual commitment made a decade ago to help developing countries reduce their emissions and cope with the inevitable impacts of global warming, such as sea level rise and droughts.
Pakistani Prime Minister Imran Khan opened the forum urging mobilization of money for developing countries ``to recover from the COVID-inducted recession'' and put them on the path to achieve U.N. development goals for 2030 including eliminating extreme poverty.
He warned that if vaccines are not made available to people everywhere as soon as possible ``the virus will roam around and come back.''
``Production of the vaccine must be ramped up,'' Khan said. ``Patent and technology-transfer restrictions should be waived to enable this.''
Malawi President Lazarus McCarthy, chair of the group of 46 least developed countries, called for access to vaccines and adequate funding for the World Health Organization's COVAX facility to buy and deliver vaccines to developing nations. WHO says COVAX needs $5 billion in 2021.
McCarthy told the forum the least developed countries, known as LDCs, also want to ensure ``that COVID-19 vaccines go beyond the current provision of 20 percent'' for the entire population under COVAX.
He also called for ``full debt cancellation of all bilateral, multilateral and commercial debts owed by LDCs and a debt standstill with immediate effect'' and stepped up development aid including financing to bring the world's poorest nations into the digital world


Clic here to read the story from its source.