The president of Costa Rica, Carlos Alvarado, defended Monday before an international panel the creation of a fund financed by industrialized countries to face the global economic devastation caused by the Covid-19 pandemic.
The Fund Against the Covid-19 Economy (FACE), defended by Alvarado, would be financed with 0.7% of the GDP of the world’s largest economies and distributed by multilateral development banks with favorable terms for lower-income countries.
“Today, we must ask ourselves: ‘What have we achieved through multilateralism in the last year? Have we done enough?’” said the Costa Rican president.
President Alvarado made his request at a debate convened by the Secretary General of the UN, António Guterres, the Prime Minister of Canada, Justin Trudeau and the Prime Minister of Jamaica, Andrew Holness.
Costa Rica, with 5 million inhabitants, has suffered a strong health impact from Covid-19 — with at least 2,931 deaths — as well as an economic crisis.