The Covid-19 pandemic has taken the world by a storm and has propagated immeasurable human suffering. It threatens to adversely affect the world’s progress towards the UN Sustainable Development Goals (SDGs), plunging millions into extreme poverty and impeding the many from leading a dignified life. In the new normal brought on by the pandemic, it is ever more pressing for governments to bridge the gap between theory and practice to achieve the SDGs. This is particularly true for governments in developing countries that lack the necessary resources, social safety nets and fiscal space to mitigate the impact of the current crisis. However, governments worldwide are actively protecting their citizens and businesses by implementing policies that promote sustainable and inclusive economic prosperity.
In recent years, governing bodies have been revisiting the mechanisms behind the formulation of policies, the assessment of policy choices and their impact. This growing demand for more evidence-based decisions is enabling a thorough and systematic approach to policymaking.
This meeting aimed to raise awareness on the tools out there that can provide guidance to governments and policymakers in creating more stable and resilient systems through the effective design of policies. This would serve as safeguards for unanticipated disruptions. ESCWA’s modelling toolbox was presented, along with how these tools can guide us through a faster economic recovery from the present COVID-19 crisis with an emphasis on Computable General Equilibrium Modelling.