Needed: Global Risk Pooling Reserve Fund

According to the World Bank, 60 million people worldwide will fall back into extreme poverty as a result of the severe economic crisis unleashed by Sars-CoV-2

In the 75th year of the United Nations, few are waving the flag of multilateralism. As argued on these pages, the Covid-19 pandemic has created a strong likelihood that countries will fall back to insular approaches (“This is what a perfect storm looks like”,  March 17; https://bit.ly/2ZmEewK) and there will be limited scope for grand bargains (“New multilateralism with old paradigms?” April 17; https://bit.ly/3cOX6rY). But international cooperation is still possible — to avoid common aversions, catastrophes we all wish to avoid. We can pool resources for collective insurance against calamities in future. We need