Al-Sisi reviews Egypt's food security, strategic commodity reserves    Egypt signs strategic agreements to attract global investment in gold, mineral exploration    Syria says it will defend its territory after Israeli strikes in Suwayda    Egyptian Exchange ends mixed on July 15    Suez Canal vehicle carrier traffic set to rebound by 20% in H2: SCA chief    Tut Group launches its operations in Egyptian market for exporting Egyptian products    China's urban jobless rate eases in June '25    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    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.