Jeffrey D. Sachs

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Where Are We Now? Where Are We Headed?: Key Outcomes from SDSN’s Global Virtual Conference on the Epidemiology and Economics of Coronavirus

Jeffrey D. Sachs

On March 30, the Sustainable Development Solutions Network (SDSN) and a global panel of experts hosted a virtual event on the novel coronavirus COVID-19, and its implications for the economy.

The global virtual conference, presented via webinar, brought together 13 experts from health, academia, and multilateral institutions currently leading the fight against COVID-19 to examine the implications of the pandemic for public health and the SDGs, to present science-based recommendations for how to contain the spread of the virus, and to discuss options for mitigating the pandemic’s accompanying economic downturn. Overall, panelists stressed the utility of mitigation measures such as social distancing to slow the spread of the virus; the critical importance of adequate equipment, such as ventilators and personal protective equipment (PPE) to treat patients and protect frontline responders; and the need for financial support for health systems, workers, and overall economic recovery.

Please click on the links below to view the speakers' slides.  

Conference Summary
SDSN President and Columbia University Professor Jeffrey Sachs opened the virtual conference with a sober welcome, noting the unprecedented dangers presented by COVID-19—it is easily and sub-clinically transmitted, highly infectious, and without known immunity—and necessary policy responses to break the pandemic, bolster health systems, restore economic activity, and develop a vaccine.

The remainder of the agenda was divided into four parts, each followed by a Q&A in which webinar attendees posed questions to the panelists:

Part I – Status of the Epidemic: Incidence, Prevalence, Spread, Mortality

Speaking on behalf of Dr. Antoni Plasència, Director General of the Barcelona Institute for Global Health (ISGlobal), Dr. Carlos Chaccour presented an overview of the COVID-19 outbreak in Europe, showing how Western Europe in particular quickly became one of the hardest hit regions in the world. Dr. Alison Galvani, Director of the Center for Infectious Disease Modeling and Analysis at the Yale School of Public Health, followed with a deeply distressing account of viral spread and containment efforts in the United States, noting the “feckless leadership” and fundamentally flawed healthcare system that has led to the US seeing more confirmed cases than any other nation. Speaking of the looming pandemic spread in Brazil, Dr. Nísia Trindade Lima, President of Fiocruz, detailed the specific challenges among vulnerable populations, both urban and rural, that already lack access to healthcare and sanitation. Finally, Dr. Patrick Aboagye, Director General of the Ghana Health Service, joined to give a brief update on the situation in his country, and the steps the government has been taking to slow the spread, including a lockdown order issued for the capital city of Accra that day.

Part II – Detailed Protocols of Control Measures

Speed, social distancing, and testing were the top takeaways from the first three panelists in Part II. Dr. Byungyool Jun of South Korea, Dr. Giovanni Rezza of Italy, and Dr. Carlos Chaccour of Spain all presented on timeline of the pandemic in their countries, the specific challenges they have faced in controlling the pandemic, and policies and practices enacted to flatten the curve and reduce the pressure on overburdened healthcare systems. It was interesting to note the different approaches taken by each country: South Korea has been able to control the virus with widespread testing, while Italy and Spain have been enforcing lockdowns. On the other hand, stressed Dr. Ozge Karadag Caman and Dr. Yanis Ben Amor of Columbia University’s Center for Sustainable Development, you cannot #StayHome if you have no home. Dr. Caman and Dr. Ben Amor drew attention to the lack of physical, mental, and social support for migrants and refugees, and suggested interventions to ensure that camps and settlements are sanitary and well-provisioned to handle the crisis.

Part III – Economic Impacts and Economic Management

The effects of and responses to the COVID-19 pandemic are taking an enormous toll on the global economy. In Part III, Prof. Sachs stressed the importance of financing the massive budget deficits that will occur as a result of economic shutdown, and to cut the period of economic losses to the maximum possible extent through decisive action on controlling the pandemic. Next, Dr. Yuning Gao, Associate Professor at the Tsinghua University School of Public Policy and Management, discussed the impacts of COVID-19 on the Chinese economy; and the monetary, fiscal, land, and infrastructure policies implemented to support businesses and find new avenues for economic activity. Finally, Martin Mühleisen, Director of Strategy, Policy, and Review at the International Monetary Fund, spoke about the IMF’s Rapid Financing Instruments and other support for emerging economies and developing countries that do not have the resources to create robust stimulus packages.

Part IV – Prospects on Treatments and Vaccines

The final part of the conference provided a quick look at the possibilities and processes associated with treatment and vaccine development. Speaking on vaccines specifically, Dr. Rino Rappuoli, Chief Scientist at GSK Vaccines, explained the comparative advantages of different vaccine types, and cautioned that it may be another 18 months before a COVID-19 vaccine is commercially available. He also stressed that companies—not governments—would ultimately be responsible for the development and distribution of vaccines, and called for proper funding for these activities. Dr. Marco Krieger, Vice President of Health Production and Innovation at Fiocruz, presented the reality that there are not currently any scientifically-verified treatments for COVID-19, but emphasized that there is cause for hope, with more than 1,500 clinical trials and substantial multi-stakeholder efforts to verify treatment options underway.

To conclude, Prof. Sachs called for comprehensive scientific cooperation to address the COVID-19 pandemic and its impacts, and stressed the need for connectivity, compassion, and cooperation. “This is truly a worldwide battle, and while in the short term, there's locking down to our most local circumstances of our own flats and our own streets and our own neighborhoods, we really are all in this together.”