Post covid and labour markets: the need for reforming the International financial and fiscal system.
The global economic crisis disproportionally hurt low income workers in developing countries, through increasing poverty, food insecurity and income inequality. Richer nations cushioned their economies with unprecedented massive fiscal and financial support programmes. Nevertheless, developing countries lacked such capacity and received feeble multilateral contingency financing, symptomizing the fundamental flaws in the international and fiscal system.
As United Nations General Secretary stated, there is no answer to the cost-of-living crisis without an answer to the finance system. Following this, Mr. Van Der Hoeven proves the urgency of reforming a non-functioning system through the trajectory of impact on developing and poor countries until some proposals to make it fir for purpose in achieving the SDGs and combatting the outfall of the COVID19.
Rolph Eric van der Hoeven
(born 23 June 1948) is emeritus professor on employment and development economics at the International Institute of Social Studies in The Hague and was appointed in 2009 as a member of the Committee on Development Cooperation of the International Advisory Council (AIV) to the Dutch Government. Dr. van der Hoeven is a member of the Board of Trustees of the KNCV Tuberculosis Fund
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