What is universal basic income? 2:21
(CNN Spanish) –– It is a “viable and urgent” measure. This is how the United Nations Development Program (UNDP) described the need to provide, in the midst of the pandemic, a temporary basic income for the 2.7 billion people living in poverty around the world.
An agency report, released Thursday, argues that the "immediate introduction" of this basic income would help stop the spread of the coronavirus, as the poorest people could stay home by eliminating the need to go out and find their livelihood. "A temporary basic income would allow governments to give people in confinement a financial lifeline, inject cash into local economies to help keep small businesses afloat and curb the devastating spread of covid-19," said the administrator of the UNDP Achim Steiner, according to a statement.
4 billion people, #HalfTheWorld, are trying to survive during # COVID19 without any form of social protection coverage. Our new report offers realistic solutions to create or top up #TemporaryBasicIncome to reduce infection & prevent a protracted crisis: https://t.co/BHYMv2ABal pic.twitter.com/EylHGZCX3b
- UN Development (@UNDP) July 23, 2020
How urgent is basic income?
According to UNDP, 7 out of 10 workers in developing countries earn a living in informality, which means that they cannot generate income if they are at home. Which necessarily affects a global pandemic, in which the coronavirus infects more than 1.5 million people every week, the agency noted.
"Many of the large numbers of people who are not covered by social security programs are informal, low-wage workers, women and youth, refugees and migrants, and people with disabilities," UNDP said in a statement.
Who to give universal basic income in the face of the crisis? 2:22How much would it cost?
The report estimated that $ 199 billion would be needed for the basic income of 2.7 billion people in 132 developing countries. Although it seems an exorbitant figure, UNDP pointed out that for six months this would represent 12% of the total financial response to covid-19 expected for 2020. This, in turn, is equivalent to a third of what developing countries should pay for foreign debt this year.
“These unprecedented times demand unprecedented social and economic measures. Introducing a temporary basic income for the world's poorest people is an option, something that would have seemed impossible a few months ago, "added Steiner.
covid-19ONUPandemiaUNDPPovertyBasic income