Professor provides thought-leadership to UN ECLAC on policies for post-pandemic reconstruction
The United Nations Economic Commission for Latin America and the Caribbean invited Professor Maria Savona to a high-level meeting of thought leaders to discuss draft policy recommendations on how to implement the Financing for Development in the Era of COVID-19 and Beyond initiative.
The meeting was part of a coordinated multilateral response to address the impacts of the COVID-19 pandemic on the fiscal space of Latin American and the Caribbean countries to respond to the emergency and to service external debt obligations as well as the risk of a wave of sovereign debt defaults.
Professor Maria Savona discussed both the long- and short-term issues in terms of managing the emergency and learning from it to ensure a new direction to the policy in the long run. She emphasized the importance of evidence and public and political consensus to ensure economic recovery.
Professor Savona presented recent research on digital transformation and labour markets, proposing a wealth tax on large digital technology companies (Google, Amazon, Facebook, Apple) in order to fund post-pandemic recovery. She also drew on more research to indicate that further recovery could be made through inclusive policy development which has been shown to increase innovation performance.
The ECLAC Executive Secretary, Alicia Barcena, chaired the group of thought leaders, that included Professors Stephany Griffith-Jones and Laura Carvalho. The group provided comments on the suggested actions and policy recommendations developed by ECLAC, which will be presented at a meeting of Ministers of Finance (September 8, 2020) and Heads of State (September 29,2020).
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