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U.N. chief wants $2 bln to help poor countries combat coronavirus

Reuters WORLD
Published March 23,2020
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U.N. chief Antonio Guterres said on Monday the world body wants $2 billion to help poor countries combat coronavirus and warned that a massive, coordinated package would also be needed to deal with the pandemic's social and economic impact around the world.

"The package needs to make households be afloat, make businesses be afloat, keep societies being afloat," Guterres told a virtual news conference.

"This will require a double-digit of GDP (gross domestic product) support in the developed world and creating the conditions through the IMF (International Monetary Fund), through the swaps among central banks, through the creation of new facilities," he said.

So far more than 351,00 people have been infected and over 15,330 have died, according to a Reuters tally.

The spread of the highly contagious COVID-19 respiratory illness caused by the coronavirus has drawn comparisons with devastating periods such as World War Two, the 2008 financial crisis and the 1918 Spanish flu.

"We need a much stronger coordination," said Guterres, adding that he had written to the world's 20 largest economies (G20) and would join their virtual meeting later this week.

"Coordination in making sure that not only the developed countries can respond effectively to the disease, but that there is massive support to the developing world not to let the disease spread like wildfire," he said.

Guterres said he would launch a $2 billion humanitarian appeal on Wednesday.