Trudeau Set to Cohost UN Summit for COVID-19 Global Recovery Plan | Financial Buzz

Trudeau Set to Cohost UN Summit for COVID-19 Global Recovery Plan

Prime Minister, Justin Trudeau, is set to cohost a high profile United Nations Summit on Thursday, which strives to cultivate a global response to the overwhelming economic effect the COVID-19 pandemic has caused. Trudeau will cohost the virtual conference alongside UN Secretary General Antonio Guterres and Jamaican Prime Minister Andrew Holness. The Conference takes place as Canada attempts to fill 1 of the 2 non-permanent seats on the UN Security Council. 

According to the UN, if countries don’t band together to establish a recovery plan, the pandemic could cost the world USD8.5 Trillion and drive 34.3 Million people into severe poverty this year alone. 

Over 50 world leaders are scheduled to join the conference, including Angela Merkel from Germany and Emmanuel Macron from France as well as World Bank representatives, the International Monetary Fund and the private sector. Nevertheless, it was unknown on Wednesday if U.S. President, Donald Trump, would participate. 

The UN has made it clear that at the moment, all countries are battling economic hardship, especially those that have pre-existing economic distress and can not provide support for their citizens. 

“We are in an unprecedented human crisis because of a microscopic virus,” Guterres said in the release. “We need to respond with unity and solidarity and key aspect of solidarity is financial support.”

Trudeau added: “the best way to help our people and economies rebound is to work together as a global community.”

“We want to support collective and individual actions to enable a recovery that leads to more inclusive, sustainable and resilient economies, where no one is left behind.”

 Additionally, Trudeau expressed that Canada would be aiding less fortunate countries throughout the crisis, not only because it is the right thing to do but also because it is in Canada’s best interest.