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G20 Pledges to Support the Global Economy

G20 Initiatives to Support the Global EconomyThe G20 is a group of 20 leading nations (19 countries and the European Union) that gather for high-level discussions on macro-financial, socio-economic and development issues on a global scale. Together, they comprise almost 90% of global GDP and 80% of global trade. This year, the G20 summit will be held from November 21-22, in Riyadh, Saudi Arabia.

Supporting the Global Economy Amid COVID-19

This October, the G20 highlighted the importance of prioritizing the global fight against COVID-19 and doing “whatever it takes” to support the global economy. As part of their plan to bring COVID-19 under control, the G20 has pledged to invest upwards of $5 trillion to support the global economy. This is in response to the widespread economic consequences of the pandemic and subsequent lockdowns.

The U.N. has previously spoken out about the importance of the G20 coming together to develop a plan for tackling the novel coronavirus. In March 2020, the U.N. Secretary-General António Guterres addressed the G20 directly in New York, saying that “solidarity is essential, among the G20 and with the developing world, including countries in conflict.” He added that the pandemic requires a “war-time plan to fight it.”

“While the liquidity of the financial system must be assured, our emphasis must be on the human dimension. We need to concentrate on people, keeping households afloat and businesses solvent, able to protect jobs,” Guterres continued.

Guterres also called for debt relief, economic and social support to developed countries and a stimulus package.

Solutions to Support the Global Economy

To support the global economy as a whole, the G20 will likely be required to heed the aforementioned requests from the U.N. Additionally, economic forecasts show that developing countries are at much greater risk of economic anxiety due to the socio-economic effects of the novel coronavirus pandemic, in contrast to developed countries which are already showing signs toward economic recovery.

The G20 has now also agreed for the first time on a “Common Framework” to handle low-income countries facing debt, which is a monumental step forward for global debt relief. This framework is expected to be finalized at the November meeting.

Kristalina Georgieva, the managing director of the IMF has commented on this achievement. “I am encouraged by G20 discussions on a Common Framework for Sovereign Debt Resolution as well as on our call for improving the architecture for sovereign debt resolution, including private sector participation,” said Georgieva on October 15, 2020.

The G20 has also agreed to extend the Debt Service Suspension Initiative (DSSI) by six months. This means it will now freeze official bilateral debt payments until the end of 2020. The G20 has also stated that another six-month extension will be considered in April. This is significant progress from the G20’s past stance regarding the global debt agenda.

– Katherine Musgrave
Photo: Flickr

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10 International Issues to Watch

10 International Issues to WatchWith the world always changing, there are some issues that remain constant. Some of these issues are directly related to poverty while other events increase the likelihood of creating impoverished communities. Here are 10 international issues to watch in relation to world poverty.

10 International Issues to Watch

  1. Poverty in sub-Saharan Africa
    The good news is that global poverty rates have been dropping since the turn of the century. Nevertheless, there is still work that needs to be done. Approximately 10 percent of people in developing areas live on less than $2 per day. Poverty rates have declined in Eastern and Southeastern Asia, but more than 40 percent of residents of sub-Saharan Africa still live below the poverty line.
  2. Lack of Access to Clean Water
    There are more than 2 billion people in the world who cannot access clean water in their own homes. Lack of access to clean water increases the likelihood of contracting illnesses. When people get sick, they have to spend money on medicine, which can cause families to fall into extreme poverty. In other cases, people have to travel extremely far to collect clean water. Altogether, women and girls spend approximately 200 million hours walking to get water daily. Access to clean water is one of the 10 international issues to watch in relation to world poverty.
  3. Food Security
    By 2050, the world will need to feed 9 billion people, but there will be a 60 percent greater food demand than there is today. Thus, the United Nations is taking steps to address the problem. The U.N. has set improving food security, improving sustainable agriculture and ending hunger as some of their primary focuses by the year 2030. The U.N. must address a wide range of issues to combat these problems. These issues include gender parity, global warming and aging populations.
  4. Improving Education
    Most impoverished communities around the world lack a solid education system. Some common barriers include families being unable to afford school, children having to work to support their family and the undervaluing of girls’ education. UNESCO estimates more than 170 million people could be lifted out of poverty if they had basic reading skills.
  5. Limited Access to Jobs
    In rural and developing communities around the world, there is often limited access to job opportunities. There is a multitude of factors that can lead to a lack of adequate work or even no opportunities at all. Two common roadblocks are a lack of access to land and a limit of resources due to overexploitation. It is obvious that no available means to make money ensures that a family cannot survive without outside help.
  6. Limiting Global Conflict
    When conflict occurs, it impacts the poor the hardest. Social welfare type programs are drained, rural infrastructure may be destroyed in conflict zones and security personnel moves into urban areas, leaving smaller communities behind. At the state level, impoverished communities have lower resilience to conflict because they may not have strong government institutions. Poverty and conflict correlate strongly with one another.
  7. Gender Equality
    From a financial standpoint, gender equality is vital to improving the world economy. The World Economic Forum states that it would take another 118 years to achieve a gender-neutral economy. In 2015, the average male made $10 thousand more a year than their female counterparts. However, there has been an increased amount of awareness on the issue that may lead to an improved economy for all.
  8. Defending Human Rights
    In 2018, the world saw a decline in global freedom. However, over the last 12 consecutive years, global freedom rights have decreased. More than 70 countries have experienced a decline in political and civil liberties. However, in 2019, steps are being taken to limit this problem. At the International Conference on Population and Development, there will be a focus on human rights. France will also align its G-7 efforts at limiting a variety of inequalities.
  9. Responding to Humanitarian Crises
    The 2019 Global Humanitarian Overview shows a large number of humanitarian crises around the world. Between Syria, Colombia and the Democratic Republic of the Congo, there are more than 19 million internally displaced people. In 2019, approximately 132 million people have needed humanitarian help, costing the world economy almost $22 billion.
  10. Climate Change
    From a scientific standpoint, the land temperature has increased by 1 degree C. in the last half decade, and greenhouse gas emissions have risen to their highest levels in more than 800,000 years. This has led to increased storms and droughts throughout the world. In the last 39 years, weather-related economic loss events have tripled.

Even though the world still has many issues to address, progress is being made in a variety of areas that may help limit global poverty. These are but 10 international issues to watch in relation to global poverty. The global awareness of poverty-related issues is something that continues to be extremely important for the advancement of our world.

– Nicholas Bartlett
Photo: Google Images

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10 Cool Facts About the United Nations

United Nations

The United Nations is an international organization that was founded in 1945. At the end of the Second World War, many countries came together to focus on global peace, climate change, humanitarian emergencies and country development. The organization has become a forum for countries to negotiate and solve problems together in a regulated environment. Below are 10 cool facts about the United Nations.

10 Cool Facts About the United Nations

    1. The U.N. Has Almost 200 Member States
      There are currently 196 member states in the United Nations. These individual states are all recognized by the United Nations as members of the international organization. There are only four countries that are non-members of the U.N. They are Kosovo, Palestine, Taiwan and Vatican City. These countries have received invitations to join the U.N., but have yet to accept.
    2. Branches and Programs of the U.N. Received the Nobel Peace Prize 11 Times
      Over the last 70 years, the United Nations has been given 11 Nobel Peace prizes awarded to various agencies, specialized programs and initiatives. This prize was inspired by the last will of Alfred Nobel in 1895. Upon his death, he left most of his fortune to those who made advancements for the betterment of humanity in the areas of physics, chemistry, physiology, medicine, literature and peace.
    3. The United Nations Was Proposed in 1942
      United States President Franklin D. Roosevelt coined the term the “United Nations” on January 1, 1942. Representatives of 26 nations came together at that time in order to fight the Axis Powers during World War II. However, the U.N. did not officially create a charter until 1945. The organization was officially formed in October 1945 when 51 member states ratified its charter. This day is now celebrated as United Nations Day.
    4. The U.N. Has Six Official Languages
      In 1946, the U.N. established six official languages for its meetings and distributed documentation. The languages are Arabic, Chinese, English, French, Russian and Spanish. During meetings delegates and representatives must utilize one of these languages or provide a written interpretation in one of them. Each language is recognized on a specific day of the year to celebrate cultural diversity and multilingualism.
    5. The U.N. Has Its Own News Site
      In order to keep the world updated on pertinent international issues and achievements, the United Nations has a news site. The site separates stories by world regions, topics and timeliness. The site is available in the official languages of the U.N. and has both a written and audio option.
    6. It Prioritizes Specific Global Issues
      Conflict resolution and peacekeeping are the main efforts of the United Nations, but the organization has many other branches of foreign assistance. Through specialized programs, the U.N. also addresses global issues such as decolonization, climate change, ending world poverty, children’s rights and international law. The website also outlines fast facts to engage readers about various topics.
    7. The U.N. Hosts International Court Hearings
      The main body of the United Nations judicial system is the International Court of Justice. It is composed of 15 judges who each serve nine-year terms and are elected by the U.N. General Assembly and Security Council. This court provides legal advising and settles disputes between member states. It also regulates global commons, such as environmental conservation, international waters, outer space and global trade, and ensures that human rights violations are prosecuted.
    8. The U.N. Has 36 Specialized Agencies, Programs and Partnerships
      There are 36 agencies and programs known as the “U.N. Family.” The programs are funded through voluntary contributions and are considered independent international organizations. The agencies and programs specialize on different issues. For example, UNICEF is the United Nations International Children’s Emergency Fund and focuses on ensuring the proper treatment of children worldwide and the protection of children’s rights.
    9. The Official Emblem Hasn’t Changed Since 1946
      The United Nations flag and symbol are blue and white. The design team created the logo in 1945, and it was officially adopted by the organization in 1946. The emblem is “a map of the world representing an azimuthal equidistant projection centered on the North Pole, inscribed in a wreath consisting of crossed conventionalized branches of the olive tree, in gold on a field of smoke-blue with all water areas in white,” according to the original description.
    10. The U.N. Has the First Recorded Definition of Human Rights
      In 1948, the United Nations General Assembly drafted the first Universal Definition of Human Rights (General Assembly resolution 217 A). It was drafted by representatives from different legal and cultural backgrounds to make it more comprehensive. It sets out fundamental human rights that should be protected; condemning slavery, torture, imprisonment without trial and prejudice. It has been translated into more than 500 languages.

The United Nations has worked for decades to protect human rights around the world. These 10 cool facts about the United Nations shed some light on the history of the organization as well as some of its policies.

– Emily Triolet
Photo: Flickr