The world faces a global crisis of unsustainable debt, declining economic growth, rising inflation and major supply-chain disruptions. It is especially acute for the poorest countries and populations who experience both direct impact of the COVID-19 pandemic and heightened vulnerability to long-term consequences, including higher unemployment rates, reduced incomes and increased costs of living, poverty, inequality and a lack of adequate social protection. These circumstances are aggravated by resurgent nationalism, rising racism and intolerance, increasing xenophobia and violence against women, children and young people.
The crisis is compounded by the severe impact of climate change, which threatens humanity’s very existence and is the biggest threat faced by mankind ever since two world wars. It will require sweeping reform of economies and power structures in many countries. This is a far more difficult and longer-term task than cutting budget deficits, money growth and overvalued exchange rates which were the central responses to most of the previous crises.
It is also important to remember that even during a time of great turbulence and uncertainty, it’s essential to take good care of your own physical and mental health, to be patient with yourself, and to make time for things that bring you joy and stability. This includes eating a well-balanced diet, getting enough sleep, exercising regularly and taking mental health breaks. It is also helpful to be compassionate with yourself and others and to practice mindfulness. Lastly, it’s essential to seek out social support when you need it.