<p>During a virtual address at the World Economic Forum (WEF) Davos Agenda 2022 on Monday (January 17), the United Nations Secretary-General Antonio Guterres highlighted urgent actions needed to help developing countries amid climate, coronavirus (COVID-19) and other crises.&nbsp;</p>

<p>Guterres appealed to the business leaders to support developing countries in order to reform the global financial system. In the current scenario, developing and low-income countries need access to COVID-19 vaccines, they need assistance to combat the climate crisis and its related consequences.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/we-offer-a-bouquet-of-hope-to-world-modi-pitches-invest-in-india-at-wef-davos-2022-445514">‘We offer a bouquet of hope to world’: Modi pitches ‘invest in India’ at WEF Davos 2022</a></strong></p>

<p>During the address, Guterres said that the low-income countries are at a huge disadvantage. "They're experiencing their slowest growth in a generation," Guterres said.&nbsp;</p>

<p>"The burdens of record inflation, shrinking fiscal space, high-interest rates and soaring energy and food prices are hitting every corner of the world and blocking recovery — especially in low- and some middle-income countries," he added.&nbsp;</p>

<p>Talking about Covid vaccine equity, he said, "Last fall, the World Health Organization unveiled a strategy to vaccinate 40 per cent of people in all countries by the end of last year and 70 per cent by the middle of this year. We are nowhere near these targets."</p>

<p>"Vaccination rates in high-income countries are shamefully seven times higher than in African countries, and we need vaccine equity now," he added.&nbsp;</p>

<p>Guterres, who began a second five-year term as UN chief on January&nbsp;1. has long been pushing for more global action to address COVID-19 vaccine inequity and climate change and for reform of the global financial system.</p>

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<p dir="ltr" lang="en">Special Address by <a href="https://twitter.com/antonioguterres?ref_src=twsrc%5Etfw">@antonioguterres</a>, Secretary-General, <a href="https://twitter.com/UN?ref_src=twsrc%5Etfw">@UN</a> with <a href="https://twitter.com/borgebrende?ref_src=twsrc%5Etfw">@borgebrende</a> <a href="https://twitter.com/hashtag/DavosAgenda?src=hash&amp;ref_src=twsrc%5Etfw">#DavosAgenda</a> <a href="https://t.co/daBRBJi4HF">https://t.co/daBRBJi4HF</a></p>
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<p>Meanwhile, in the latest report by Oxfam released on Sunday, it has been stated that the wealth of some richest people in the world has increased and how taxing them will benefit millions who face the worst of situations due to extreme poverty. &nbsp;</p>

<p>Abby Maxman, who is the president of Oxfam America said that one of the "single most powerful tools" is there to address the level of "egregious and deadly inequality" is to tax the rich.</p>

<p>In a news release, she added that instead of lining the pockets of the ultra-wealthy, there's a need to invest billions of dollars in the economy, children and planet, paving the way for a more "equal and sustainable future".&nbsp;</p>

<p><strong>WATCH |&nbsp;Indian Prime Minister Narendra Modi addresses WEF’s Online Davos Agenda 2022 Summit</strong></p>

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During a virtual address at the World Economic Forum (WEF) Davos Agenda 2022 on Monday (January 17), the United Nations Secretary-General Antonio Guterres highlighted urgent actions needed to help developing countries amid climate, coronavirus (COVID-19) and other crises.

During a virtual address at the World Economic Forum (WEF) Davos Agenda 2022 on Monday (January 17), the United Nations Secretary-General Antonio Guterres highlighted urgent actions needed to help developing countries amid climate, coronavirus (COVID-19) and other crises. Guterres appealed to the business leaders to support developing countries in order to reform the global financial system. In the current scenario, developing and low-income countries need access to COVID-19 vaccines, they need assistance to combat the climate crisis and its related consequences. ALSO READ | ‘We offer a bouquet of hope to world’: Modi pitches ‘invest in India’ at WEF Davos 2022 During the address, Guterres said that the low-income countries are at a huge disadvantage. "They're experiencing their slowest growth in a generation," Guterres said. "The burdens of record inflation, shrinking fiscal space, high-interest rates and soaring energy and food prices are hitting every corner of the world and blocking recovery — especially in low- and some middle-income countries," he added. Talking about Covid vaccine equity, he said, "Last fall, the World Health Organization unveiled a strategy to vaccinate 40 per cent of people in all countries by the end of last year and 70 per cent by the middle of this year. We are nowhere near these targets." "Vaccination rates in high-income countries are shamefully seven times higher than in African countries, and we need vaccine equity now," he added. Guterres, who began a second five-year term as UN chief on January 1. has long been pushing for more global action to address COVID-19 vaccine inequity and climate change and for reform of the global financial system. Special Address by @antonioguterres, Secretary-General, @UN with @borgebrende #DavosAgenda https://t.co/daBRBJi4HF — World Economic Forum (@wef) January 17, 2022 × Meanwhile, in the latest report by Oxfam released on Sunday, it has been stated that the wealth of some richest people in the world has increased and how taxing them will benefit millions who face the worst of situations due to extreme poverty. Abby Maxman, who is the president of Oxfam America said that one of the "single most powerful tools" is there to address the level of "egregious and deadly inequality" is to tax the rich. In a news release, she added that instead of lining the pockets of the ultra-wealthy, there's a need to invest billions of dollars in the economy, children and planet, paving the way for a more "equal and sustainable future". WATCH | Indian Prime Minister Narendra Modi addresses WEF’s Online Davos Agenda 2022 Summit ×

Davos Agenda 2022: At WEF, UN chief urges businesses to help low-income nations amid Covid and climate crises

<p>Chinese President Xi Jinping while speaking virtually at the World Economic Forum (WEF) hit out against Western powers saying "confrontation does not solve problems, it only invites catastrophic consequences".</p>

<p>The high profile Davos forum is being held online due to the coronavirus pandemic.</p>

<p>"Our world today is far from the tranquil, rhetoric that stokes hatred and prejudice abound," the Chinese president said in his address as he emphasised that his country was fighting a "tenacious battle" against the "once in a century pandemic" as he conceded that it is a "protracted" battle due to advent of new variants.</p>

<p><a href="https://www.wionews.com/india-news/we-offer-a-bouquet-of-hope-to-world-modi-pitches-invest-in-india-at-wef-davos-2022-445514">Also Read:&nbsp;‘We offer a bouquet of hope to world’: Pm Modi at WEF</a></p>

<p>China has been hit by large scale local flare-ups of coronavirus infections in several provinces with the Winter Olympics due to take place in Beijing next month. The country recently lockdown two cities amid the Omicron crisis even as authorities scamper to implement the "zero Covid" policy.</p>

<p>"Holding each other back or shifting blame will only cause needless delay," Xi said while calling for vaccination distribution.</p>

<p>Xi said the global industrial supply chains have been disrupted amid rise in commodity prices even as his country was ready to "facilitate cross border trade and keep the industrial supply chain secure and smooth".</p>

<p><a href="https://www.wionews.com/world/davos-agenda-2022-un-chief-urges-business-to-help-low-income-nations-amid-covid-19-and-climate-crises-at-wef-445567">Also Read |&nbsp;Davos agenda 2022: UN chief urges business to help low-income nations amid COVID-19</a></p>

<p>The Chinese president pitched for globalisation saying "countries are not riding separately in some 190 small boats, but rather are all in a giant ship on which our shared destiny hinges" as he touted the country's economic growth rate last year.</p>

<p>"Small boats may not survive a storm, but a giant ship is strong enough to brave a storm," Xi said at the Davos virtual forum.</p>

<p>(With inputs from Agencies)</p>


Chinese President Xi Jinping while speaking virtually at the World Economic Forum (WEF) hit out against Western powers saying "confrontation does not solve problems, it only invites catastrophic consequences".

Chinese President Xi Jinping while speaking virtually at the World Economic Forum (WEF) hit out against Western powers saying "confrontation does not solve problems, it only invites catastrophic consequences". The high profile Davos forum is being held online due to the coronavirus pandemic. "Our world today is far from the tranquil, rhetoric that stokes hatred and prejudice abound," the Chinese president said in his address as he emphasised that his country was fighting a "tenacious battle" against the "once in a century pandemic" as he conceded that it is a "protracted" battle due to advent of new variants. Also Read: ‘We offer a bouquet of hope to world’: Pm Modi at WEF China has been hit by large scale local flare-ups of coronavirus infections in several provinces with the Winter Olympics due to take place in Beijing next month. The country recently lockdown two cities amid the Omicron crisis even as authorities scamper to implement the "zero Covid" policy. "Holding each other back or shifting blame will only cause needless delay," Xi said while calling for vaccination distribution. Xi said the global industrial supply chains have been disrupted amid rise in commodity prices even as his country was ready to "facilitate cross border trade and keep the industrial supply chain secure and smooth". Also Read | Davos agenda 2022: UN chief urges business to help low-income nations amid COVID-19 The Chinese president pitched for globalisation saying "countries are not riding separately in some 190 small boats, but rather are all in a giant ship on which our shared destiny hinges" as he touted the country's economic growth rate last year. "Small boats may not survive a storm, but a giant ship is strong enough to brave a storm," Xi said at the Davos virtual forum. (With inputs from Agencies)

Confrontation only invites catastrophic consequences, says Xi at Davos virtual forum

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Davos Agenda 2022: At WEF, UN chief urges businesses to help low-income nations amid Covid and climate crises

Confrontation only invites catastrophic consequences, says Xi at Davos virtual forum