United Nations Current Affairs - 2020
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On March 31, 2020, the United Nations Security Council adopted Resolution 2518 to ensure safety and security of peacekeepers. This is the first time, a resolution is being passed for the safety of the peacekeepers.
The resolution was initiated and sponsored by China. It was co-sponsored by 43 countries including Pakistan, Iran, South Africa, Turkey, Russia, Vietnam, etc. Today there are more than 95,000 peacekeepers operating in around 13 missions all over the world.
The resolution of safety of peacekeepers comes in a time when the United Nations is marking 75th anniversary. This is a crucial year for the organization to implement “Action for Peace”.
Action for Peace
The Action for Peace initiative was launched by the United Nations to help countries address challenges such as elusive political issues, protracted conflicts, dangerous environments, broad and complex mandates, etc. The initiative will focus on targeted mandates, support political solutions.
Tags: China • Iran • Pakistan • Resolution • UN Peace Keeping Mission
The United Nations Conference on Trade and Development (UNCTAD) made a new analysis under the title “The COVID-19 Shock to Developing Countries”.
The analysis says that leading exporting countries are to face drop in investments between 2 trillion USD and 3 trillion USD in the next two years. The world economy is to go into recession in 2020-21 in spite of the G20 countries infusing 5 trillion USD. The predicted loss of global economy this year is expected to be in trillion USD. In just two months since the spread of the virus, developing countries have taken a huge hit in terms of currency depreciation, capital outflows, falling commodity prices, losing export earnings, declining tourist revenues.
India and China
The report also says that India and china are to stay out of these global recessions. However, the report did not give proper explanation for the countries being out of the recession. Recently, the ICRA, Moody’s and other leading market observers have predicted that the growth rate of India is to decline. However, they did not bring out factors that might put India in recession mode. This says that though India is to get affected economically by the virus, the impacts are to be minimal as compared to other developing countries.
Tags: Corona Virus • COVID-19 • Economic Slowdown • Recession • Revenue