WASHINGTON: Huge spending by governments kept the world economy afloat during the pandemic as officials mobilized a fiscal response not seen since World War Two to bolster household incomes and give businesses a fighting chance to survive the health crisis.
"Over the medium term, the issue is all about finding the resources to fund climate goals and most are extremely behind on that," he added of the rapid decarbonization of the global economy needed to avert a climate crisis. At this point there's no global plan for how to underwrite it, and governments' share of climate investments will have to compete with social, health and other spending priorities set to intensify because of demographic trends like ageing populations.
"The cost of servicing debt is very high and that can interact with climate ambition and climate vulnerability," he said, urging more effort to restructure those countries' debt.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Harvey Norman boss on what Singaporeans have been stocking up onAs Harvey Norman Asia celebrates its 20th anniversary in Singapore, its managing director Kenneth Aruldoss takes stock of what Singaporeans have been buying for their homes during the pandemic.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
New York to welcome back crowds to Times Square on New Year's EveNew York City will allow crowds into Times Square on New Year's Eve to ring in 2022, Mayor Bill de Blasio announced Tuesday, after the pandemic muted last year's celebrations.
Source: YahooSG - 🏆 3. / 71 Read more »
WHO: Europe is only region with increasing COVID deathsThe World Health Organization says coronavirus deaths in Europe rose 5% in the last week, making it the only region in the world where COVID-19 deaths increased. The U.N. health agency said confirmed cases jumped 6% globally, driven by increases in the Americas, Europe and Asia. In its weekly report on the pandemic issued late Tuesday, WHO said COVID-19 deaths in all regions other than Europe remained stable or declined, and totaled 50,000 worldwide last week.
Source: YahooSG - 🏆 3. / 71 Read more »
Late goal gives Flamengo 1-0 win over CorinthiansRIO DE JANEIRO : Substitute Bruno Henrique grabbed a late winner in injury time to give Flamengo a 1-0 victory over Corinthians on Wednesday and keep their faint hopes alive of retaining Brazil’s first division title. The Rio club rested many of their top players ahead of the Copa Libertadores final agai
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Lawrence Wong acknowledges that “perceived flip-flops in COVID-19 strategy” creates frustration - The Independent Singapore News“The point is, countries everywhere have to deal with these adjustments throughout the pandemic. And we have to keep on doing that until we reach a stabler equilibrium with the virus. This is the common challenge that countries everywhere are dealing with.” — Lawrence Wong
Source: IndependentSG - 🏆 2. / 72 Read more »