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Debt increased due to greater assistance during epidemics

Debt increased due to greater assistance during epidemics

In total, the world’s richest nations, within the OECD, increased their aid to $ 161.2 billion by 2020. 3.5 percent more Compared to the previous year, the OECD’s Development Committee reports to the DAC in a new report.

– It is good that the total number has not fallen, but when such a catastrophe occurs in the world, it is not an excitement that is a small increase. We are pleased that Sweden has not reduced growth aid as it has seen its economy shrink, but it should also be noted that Sweden ‘s figure includes a large sum for the Green Climate Fund, which is not done every year, says Kannel Axelson Nicander.

He is speaking to Om Wolton on the sidelines of the UN Conference on Funding for International Development, which will take place digitally from April 12 to 14. During the conference, many participants noted that Sweden and a few other countries, such as Germany, Norway and France, had increased their assistance during epidemics.

At the same time, it is noteworthy that many countries are making dramatic cuts like the United Kingdom.

– This is a very short time. Not least, because the recovery in every country, including the UK, depends on the recovery taking place around the world, says Kannal Axelson Nicander.

OECD General Secretary Angel Currie was not happy either.

“World governments have invested $ 16 trillion in economic stimulus packages because of Govt, but we have only been able to raise one percent of that amount to help developing countries cope with the unprecedented crisis of our lives,” he said in a statement.

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Colonel Axelson Nicander says the economic consequences of an infection are not a slope, it is a moving thing. He believes the crisis is too severe and could take five to ten years to recover from. Many of the measures presented at the financial conference were deferrals of short-term loans, two months at a time.

The OECD writes in its report that one of the main reasons for the increase in development assistance during epidemics is that donors have provided more loans. Of OECD’s total aid assistance, 22 percent last year was in debt, compared to 17 percent in the previous year.

In the case of Sweden, the increase is primarily due to payments to the UN Green Climate Fund, but the OECD’s package shows that increased investment in other countries’ development investments includes loans.

During the financial conference, many of the participants seemed to be shocked by the dramatic situation. According to Colonel Axelson Nicander, there is a genuine concern for development.

– Many point out the problem of vaccination, how important it is to get a supply quickly to get access to everyone. Magdalena Anderson, who represented the International Monetary Fund at the meeting, said the distribution of vaccines and vaccines is now the best investment.

During the last day of the conference, the Swedish government announced More investment Covid, among global incomes, also spreads the Covid-19 vaccine to low-income countries. Sweden contributes SEK 2.25 billion, which, along with the previous SEK 200 million, makes Sweden the world’s largest donor to Kovacs.

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Colonel Axelson welcomes the government’s message during the Nicander Conference, but wants to focus more on the importance of social security systems. It has been mentioned in many places this year Funding for the Sustainable Development Report, From the UN, the World Bank and the International Monetary Fund.

– But, during the conference, it was very quiet, while at the same time focusing more on public investment this year, which is something we have long called for in Svenska Kirken. Not as much talk about private investment as before. Sure, they are important, but our efforts need to be balanced by a greater focus on public resources.

According to the OECD, private investment inflows and world trade fell sharply last year. In developing countries, private investment fell by 13 percent and trade by 8.5 percent.

Olson Frith, Minister of International Development Cooperation, is also aware of this. In an email to OmVldrlden, he writes, “The basic access to social security systems has made clear the realization that we must support a stable and inclusive society.”

Olson Frith believes that investing in a fair approach to vaccines is a key issue in realizing the need for social security systems. There is also a need to mobilize resources, the minister said.

Sweden has already been involved in efforts to develop capacity among officials, and Sweden has said it will continue to work with the UN. He also writes that the development plan is working with the UNDP and the World Bank on efforts to strengthen democracy and “good governance”.

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“When countries can’t do it themselves, we make big investments to give people access to what’s included in security systems.”

Eric Hulkzer