Innovative Financial Approaches Key to Unleash SIDS Economic Potential

By Ambassador Lois M YoungNEW YORK, Jul 7 2020 (IPS) Our world is transfixed by the great human toll and economic impact of the worst global pandemic in a century. For the 65 million inhabitants of small island developing states (SIDS), the impact of the novel coronavirus (COVID-19) is reminiscent of the worst forms of extreme weather events that SIDS contend with annually. Such events cost lives, undermine our hard-earned development gains, and hamper the aspirations and quality of life of our people. Our governments are routinely compelled to shift already scarce resources from social and economic investments to recovery and sustenance in the aftermath of disasters. For decades islands have been treading a development tightrope, which is increasingly precarious with the intensification of adverse climate impacts. The acute vulnerability of small islands to sudden systemic shocks is now being experienced by the world collectively. Ultimately, the hard decisions and tradeoffs that nations must make to secure human health are akin to the decisions that small islands have made to tackle the root causes of climate change and to advocate for planetary health. The one difference is that there is no potential vaccine to eradicate climate change, only global respect for and adherence to the Paris Agreement. From the perspective of islands, the immediate responses to both the COVID-19 and climate change must reflect their intricate connection and profound compatibility. The current...
Source: IPS Inter Press Service - Health - Category: International Medicine & Public Health Authors: Tags: Climate Change Development & Aid Economy & Trade Financial Crisis Global Headlines Health Humanitarian Emergencies TerraViva United Nations Source Type: news