And it is fundamentally changing societies, economies, and countries. Today we are here to understand the true impact, which is particularly devastating to developing countries and the most vulnerable communities women, youth, the elderly, and migrants. Most importantly, we are here to find innovative solutions. This the focus of the World Bank Annual meeting, which takes place starting the week of october 12 and convenience Global Leaders from governments, as mrs. , and civil society. Businesses, and civil societies. We will hear from the World Bank President on what it will take to tackle the crisis, and how we can turn this into an opportunity to build a path towards a resilient and inclusive recovery. He will be joined in the president ith of the Stanford School of finance and management. President ar from the of the bank joining us from his office. He has been president of the german centralbank since may 2011. He is a member of the governing council of the ecb, represents germany at the imf and under international parties, and has been chairman of the board of directors of the fund for International Settlement since november 2015. Welcome. The virtual floor is yours. Asiya,k you very much, for your kind words of welcome. It is a great pleasure and honor for me to be joining you today. As everyone here knows, inequalities and realizing and inclusive and Sustainable World ,equires education, health care attention to the environment from an robust commerce, faith and neighbors. Recently,was may not but more than year ago by the president of World Bank Group, david malpass. Thesethe Current Crisis, words are pressing in default of a few months ago, millions of people lost their jobs and the National Supply chain was broken , children were unable to go to werel, and Health Systems at a breaking point. Worst of all, many people have died. Economistbanks chief summarize the followed by saying even by the standards of systemic crisis, this is a onceinacentury truly global crisis. Germany was not spared by the crisis, either. In the Second Quarter alone, the German Economy shrank by 1 10. The death and pace of the contraction were unprecedented. One reason for this was the stringent measures taken by the government to keep the pandemic in check. Consumers and businesses also behave cautiously on their own account and held back spending. When the protective measures were relaxed, people regain confidence, the economy revived. The German Economy is likely to grow strongly in the third ord r quarter, albeit from a depressed level. Although it initially appeared vshaped, it is becoming flatter. A slowdown such as this is expected. The recovery of the German Economy is likely to be protracted and to remain incomplete for some time, since Economic Life is still constrained, whether this is due to government requirements for that people are choosing to social distance. First three meters of the climb work comparatively easy, the upward path to the previous levels is long and fraught with uncertainty. A major source of uncertainty is how the pandemic will continue to unfold. Keeping the disease and great and learning to achieve containment and decreasing economic costs and eventually overcoming the pandemic are essential to sustaining economic recovery. But that is easier said than done. Es,ing infection rat and the german industry, it is also important that others regain that economic strength as well. The recovery in germany also hinges on something else. A second round of dust needs to be prevented so it cannot entrench economic problems. Monetary policy is playing its part in this, providing banks with ample liquidity, coupled with low interest rates, crucial to ensure that the economic crisis is not further aggravated by the financial system. Another risk is that businesses with previously solid fundamentals and a promising future do not make it through the crisis, setting off broadways of insolvent brought wave seven solvency spirit many people losing their jobs will have a hard time finding new employment, their skills and knowledge will begin to erode, lowering their and harming the economy as a whole. This is where fiscal policy needs to step in, by providing rapid and comprehensive Financial Support for businesses and people during this difficult period. Fiscal policy makers have taken the right course of action in germany and elsewhere. However, we also need to look at. He Bigger Picture the Global Nature of the crisis makes the situation particularly challenging. Above all, for emerging markets and developing economies. As the world bank highlighted in , there iseport headwinds from two sides. Home, the pandemic at curving the domestic economy. Second, they have to cope with the economic spillovers from the deep recession in advanced economies. Commodity prices have plunged. Demand for goods has shrunk. Tourism is almost ground to a halt. Remittances have sunk markedly. Overall, the ranks of extremely from 70ple could swell to 100 million this year, according to world bank estimates. The world bank fears that the crisis could leave deeper scar than typical recessions. In particular, and options to schooling and health care disruptions to schooling and health care is likely to have an. Mpact on individuals according to unesco calculations, over 90 of pupils worldwide were impacted when School Closures pete. As many as half of them are still affected today. Many schools remain closed, especially in the middle east and africa. Whats more, Remote Learning capabilities are often far worse in less developed countries that they are in industrial nations come with only parts of the parkervision having parts of the correlation having access to online courses. Primaryschooven ls pupils have Internet Access at home. The world bank calculation shows the consequences of disruptions to the education process due to the pandemic. It could fall on average by more than half a year, and this could lower expected lifetime earnings by 5 . As access to School Learning does not serve people equally, the Current Crisis is likely to exacerbate income inequality. The magazine the economist recently summed the problem up particularly well. This coronavirus affects everyone, but not equally. The rich short off the shock shrug off the shock to the poor cannot. The world bank has played a role in supporting low income countries. Since the beginning of the crisis, it has been able to provide funds quickly and efficiently. Emergency help support has reached 111 countries. The group will be mobilizing resources at an unprecedented scale. With that, it is high time to introduce to you the head of the central institution, the driving force behind this crisis response. I would like to welcome david malpass, president of the World Bank Group for the past one and a half years. Degreeof a bachelors major in physics, david has done work in very different settings over his lifetime. I mentioned during your career you intuitively apply to the level of principle to achieve maximum progress with the given amount of force. You did this at various private Sector Enterprises including a long stint as chief economist at bear stearns. And when you started your own company, you also served the public, spending many years at the u. S. Treasury as far back as the reagan administration. Your tasks at that time included a wealth of Foreign Policy issues, which brought you into contact with the world bank. To the, he returned treasury and became undersecretary of the treasury for International Affairs and represented the United States and International Settings across numerous g7 and g20 meetings. Keene, editor at large at bloomberg news, once praised your talents when he stressed most of all your handson approach. To paraphrase tom keenes words from others stopped, but you didnt. Quality such as this are important, particularly in times of crisis. It is with great anticipation that we await hearing what you on the outlookay for the Global Economy and the impact of the pandemic in developing countries and the world banks agenda. Fruitfulu all are debate. David, the floor is yours. David good to see you. Thank you very much, jens, for the very nice introduction. Muhammad to asiya and when this bank for bundesbank for hosting a virtually. Im here to set the stage ahead of the imf and World Bank Grou s annual meetings which will ands on covid and debt engage partners in urgent discussions on Human Capital, Climate Change, and digital of element. Before i begin, i would be remiss not to mention that this is the first time that the positioning speech for the world Group Annual Meetings is being held in continental europe. Germany is the major anchor for the World Bank Group in the rest of europe. It is the fourth largest shareholder and the fourth largest contributor, and chancellor merkel has always been a supporter of the World Bank Group priorities including tackling debt and covid as well as action on Global Public goods. I understand that these priorities are also the focus of germanys eu presidency, which runs through the end 2020. Ens said, the covid pandemic is a crisis like no other. Its toll is massive qom and people in poor countries are likely to suffer the longest. The pandemic has disrupted likelihoods in every corner of the globe. It has knocked more economies into simultaneous recession than at any time since 1870. And it could lead to the first wave of a lost decade burdened weak growth and a collapse in many health and Education Systems and excessive debt. The pandemic has already changed our world decisively and forced upon the world of painful transformation. It has changed everything the way we work, the extent to which we travel, and the manner in which we communicate, teach, and learn. It has rapidly elevated some industries, especially the technology sector, while pushing. Thers towards obsolescence our approach has been comprehensive, focused on saving lives, protecting the poor and so people, insurance is poor and for people, ensuring Sustainable Business growth. I will focus on the need to redouble efforts to alleviate poverty and inequality. Second, the associated loss of Human Capital and what must be done to restore it. Third, the urgent need to help the poorest countries make government that more transparent and permanently reduce their debt burdens. Tose are two necessary steps effective investments. And finally, how can we cooperate to facilitate changes needed for an inclusive and resilient recovery . First, on poverty and inequality, covid19 has dealt an unprecedented setback to the worldwide effort to end extreme poverty, raised median income, and create shared prosperity. Jens has referred to the world banks new property projections which suggest that by 2021 an 150 million10 to people will of fallen into extreme poverty, living on less per day. 0 this means that the pandemic and global recession may push over 1. 4 of the worlds population into extreme poverty. The Current Crisis is a sharp contrast from the recession of 2008, which focused much of the damage on Financial Assets and hit advanced economies harder than developing countries. This time the economic downturn is broader, much deeper, and as it Informal Sector workers and the poor, especially women and children, higher than those with higher incomes and assets. One reason for the differential impact is the advanced economies sweeping expansion of Government Spending programs. Rich countries have had the resources to protect the citizens to the extent that many developing countries have not. Another is centralbank asset purchases. The scale of such purchases is unprecedented and has successfully propped up Global Financial markets. This benefits the welltodo and those with guaranteed pensions, especially in the rich world, but it is not clear either in textbook syria practice, how europe textbook theory or percentageave zero rates will translate into new jobs from profitable small businesses, or rising median income, key steps in reversing inequality. Poorer economies have fewer macroeconomic tools and stabilizers and suffer from weaker Health Care Systems and social safety nets. For them, there is no faster way to reverse the sudden reduction in their sales to consumers in advanced economies or the almost overnight collapse in tourism nces from family members working abroad. It is clear that sustainable recovery will require both that and if its all people come benefits all people, not just those in positions of power come in an interconnected world where people are more informed than ever before, this pandemic of inequality with rising poverty and declining median income, will increasingly be a threat to the maintenance of social order and political stability and you the defense of democracy even to the defense of democracy. Capital,n human developing countries were making significant process before covid19, and notably, we are starting to close gender gaps. Human capital is what drives the sustainable Economic Growth and poverty reduction. It consists of knowledge, skills, and quality of health that people gain over their lives. It is associated with higher earnings for people, higher income for countries, and stronger cohesion in society. Since the outbreak, however, more than 1. 6 billion children in developing countries have been out of school because of potentialimplying a loss of as much as 10 chilean dollars of lifetime earnings for these students. Genderbased violence is on the rise, and Child Mortality is also likely to increase in coming years. Our early estimates suggest that potential increase of up to 45 in Child Mortality because of healthservice shortfalls and reduction in access to food. These setbacks imply a longterm hit to productivity, income growth, and social cohesion, which is why we are doing everything we can to bolster help and education in developing countries. In the areas of health, the World Bank Group worked with our group in march to establish a fasttrack Covid Response that establish Emergency Support to 111 countries so far. Most projects are in advanced stages of disbursement for the purchase of covidrelated Health Supplies such as masks and emergency room equipment. Our goal was to take broad, fast action early and to provide positive flows to the worlds poorest countries. Were making Good Progress towards our announced 15month target of 160 billion in surge financing, much of it to the poorest countries and private sectors for trade finance and working capital. Over 50 billion of that support takes the form of grants or lowray come alongmaturity loans, providing Key Resources to maintain or expand Health Care Systems and social safety nets. Both are likely to play a key nearterm role in survival and health for millions of families. We are also taking action to help developing countries with covid vaccines and therapeutics. I announced last week that by ournding and expanding fasttrack approach to address the covid emergency can we plan to make available up to 12 billion to countries for the purchase and deployment of , once theaccines vaccines have been approved by multiple stringent regulatory agencies around the world. Our privatesector arm, the International Finance corporation, ifc outofschool children tend to backslide in education skills, and for children in the poorest countries, physical attendance in schools is an important source of food, security, and conductivity, not just reading and math that provide a critical ladder out of poverty. In nigeria, for example, we provided 500 million in new funding for the adolescent Girls Initiative for learning and employment, which aims to improve secondary Education Opportunities among girls. The project is expected to benefit more than 6 Million Girls using tv, radio, and Remote Learning tools. Is debt. Urgent topic a combination of factors has led to a wave of excessive debt in countries with no margin for ever. Global Financial Markets are dominated by lowinterest rates, creating a reach for yield fervor that invites access. Excess. This is reinforced by an imbalance in the global debt system that puts sovereign debt in a unique territory that favors creditors over people in the borrowing countries. There is not a sovereign bankruptcy process that allows for partial payment and reduction of claims. As a result, people even the destituteest and most , are required to pay the as long asGovernment Debt creditors pursue claims. Even socalled full for creditors who requires the distress claims on secondary markets, exploit the penalty interest clauses judgments to ratchet up the value of the claims, and use attachment of assets and payments to enforce debt service, even those creditors must be paid. In the worstcase, it is the modern equivalent of debtors prison. Further, the political incentive an opportunity for government officials to borrow heavily has increased. Their creditors benefit from the availability of longmaturity debt because the repayment cycle is often well after the political cycle. This undermines accountability for debt, making transparency much more important than in the past. An added factor in the current wave of debt is the rapid growth of new official lenders, especially several of chinas wellcapitalized creditors. They have expanded their portfolios dramatically and are not fully participating in the debt rescheduling processes that were developed to soften previous rates of debt. To take a First Step Towards debt relief for the poorest countries, the World Bank Spring meetings in march, i proposed a moratorium on debt payments by the poorest countries. It was partly in response to covid and the need for countries to have physical space and also a recognition that a debt crisis was underway for the poorest countries, recalling the challenges of full for creditors i mentioned earlier. , g7,endorsement by the g20 and paris club, the Debt Service Suspension initiative, dssi, took effect on may 1. The dssi has enabled estimate significant process on debt transparency, which will help borrowing countries and creditors make more informed borrowing and investment decisions. This years edition of the World Bank International debt statistics, to be released next monday, october 12, will provide more details and more disaggregated data on sovereign debt than ever before in the nearly 70year history. Many more steps are needed on debt relief. One avenue is to broaden and extent the current Debt Initiative so there is time to work out a more permanent solution. The world bank and imf has called on the g20 to extend the end ofrelief through the 2021, and we are highlighting the need to urge the participation of all of their private and bilateral Public Sector creditors in the d ssi. Private creditors and nonparticipating bilateral creditors should not be allowed to free ride on the debt relief of others and at the expense of the worlds poor. Suspension is an important stop gap, but its not enough. First, too many creditors are not participating, leaving the debt relief too shallow to meet the physical needs of the inequality pandemic around us. Second, debt payments are simply deferred, not reduced. It doesnt produce light at the end of the debt tunnel. This is particularly apparent in todays low for long financing environment. The normal time value of money simply isnt working, so the creditors of a deferral of payments with a compounding of interest often means the burden of debt goes up with time, not down. Nethistorical use of present value equations in debt restructuring has to be to theized for fairness people in the debtor countries. The risk is it will take years or decades for the countries to convince creditors to reduce their debt burdens enough to help restart growth and investment. Given the depth of the pandemic, i believe we need to move with urgency to provide a meaningful reduction in the stock of debt distress. Ies in debt under the current system, however, each country, no matter how poor, has to fight it out with each creditor. Creditors are usually better financed with the highest lawyers representing them, often in u. S. And u. K. Courts that make debt restructuring difficult. That thesey possible countries, two of the biggest contributors to development, can do more to reconcile their Public Policies toward the poorest countries and their laws protecting the rights of creditors to demand repayments from these countries. Several steps are needed. First, full participation in the moratorium. Second, full transparency. Third, a careful analysis of the debtrys long term sustainability this. Degree of transparency and analysis would also be strongly beneficial for the public commitments of developed countries such as outlay projections for public pension funds. Fourth, we need new tools to push forward with the reduction of the stock of debt for the poorest countries. The world bank and imf are proposing to the Development Committee a joint action plan for the end of 2020 for Debt Reduction for either countries in unsustainable debt situations. Fosteringtopic is on an inclusive and resilient recovery. Covid19 has demonstrated with deadly effect that National Borders offered little protections against some calamities. It has underscored the deep connections between economic systems, human health, and global wellbeing. It has concentrated our minds on Building Systems that will better protect all countries the next time, especially the poorest and most vulnerable citizens. It is critical that countries work toward their climate and environmental goals. A high priority for the world is to lower the Carbon Emissions from Electricity Generation, new,ng the termination of coal, and Oil DependentPower Generation projects and the wind down of existing high carbon generators. Many of the largest emitters in the developing world, but i must say also in the developed world, are still not making sufficient progress in this area. The worldandemic, bank group has remained the largest multilateral financier of climate action. Over the last five years, we have provided 83 billion in climate related investments. Our work has helped 120 Million People in over 50 countries gain access to weather data and also Early Warning systems, crucial to saving lives and disasters in disasters. Of 34 gigawatts in Renewable Energy into grids helping communities, businesses, and economies thrive. Yearhappy to say in fiscal 2020 completed june 30, my first full year as president , the more bank group made climate related investments than at any time in its history. We intend to step up that work over the next five years. We are helping countries put an economic value on biodiversity, including forests, land, and water resources, so they can better manage these natural assets. We are helping them assess how Climate Risks affect women and others who are already vulnerable. We are also working with governments to eliminate or redirect environmentally harmful fuel subsidies and to reduce trade barriers for food and medical supplies. Global progress in this area has remained slow. Could19 spending packages have a decisive effect on promoting more low Carbon Energy sources and facilitating a stronger, more resilient recovery. On the economy itself, recognizing the severity of the , anturn and likely longevity key step in the sustainable recovery will be for economies and people to allow change and embrace it. Countries will need to allow capital, labor, skills, and innovation to shift to a Business Post covid environment. In conclusion, i raise the urgency of addressing poverty, inequality, Human Capital, Debt Reduction, Climate Change and economic adaptability and elements as ensuring resiliency. This once in a century crisis has demonstrated by history doesnt exactly repeat itself, because humankind does learn from its mistakes. The pandemic so far has not triggered the devastating side. Ffects of earlier crashes neither hyperinflation nor. Eflation nor widespread famine even though the loss of income and inequality of the impact have been worse than in most past crises, the Global Economic response so far has been much bigger than we might have expected at the start of this crisis. The Development Response will need to be extended and ofensified, both in terms the Health Emergency and the efforts to help countries find effective support systems and recovery plans. Greater cooperation will enable us to share knowledge and develop and apply Effective Solutions far more swiftly. It will enable innovators to thelop a vaccine that beats virus and restores confidence in the future. Working through all channels, my hope and my belief is that we can shorten the downturn and build a Strong Foundation for a durable model of prosperity, one that can lift all countries and all people. Thank you very much. Much for thosery excellent points. The president by of who will provide a reaction and is joining us today from the campus in frankfurt. He previously served as Vice President of development, part of the management department, and as a professor of strategic management. He worked as an associate professor of the university of Southern Denmark and teaches strategy and organizational design. Welcome. Kindank you for the introduction and also giving me the opportunity to share some thoughts with you today. Malpass, thank you for your inspiring and important speech. I think it highlights the challenges of and the solution to the global pandemic. I would like to make three points. First of all, i really appreciate how you perceive the pandemic as a truly Global Challenge that affects developing countries even more strongly than the developed economy. Improvedowth and prosperity will only pick up again when the Global Community tackles the covid19 Health Crisis together and i firmly purely National Responses will have limited effects. The same is true for the second challenge we face, that is Climate Change. My first point. Second point, i agree the does not only but also produces a challenge for education. We believe education is a powerful engine for the girls and we offer many programs in developing countries and emerging markets. In the fat past couple months, we have to move teaching online, especially summer schools. Of having side effect record numbers of participants from the developing countries and we made substantial investments into technology and experienced firsthand how Digital Technology and transformation is breaking down barriers and making education a lot more accessible than just a year ago. I think the experience demonstrates that Digital Transformation opens up many new opportunities, not just in education, and thereby provides a foundation for static sustainable growth. Last point, i agree excessive Government Debt puts a burden on the Younger Generation hit hard by the covid19 pandemic, but also in private enterprise. I think its of really great use today that they put a lot more emphasis on debt relief and active Debt Management as a response to the pandemic. Me as aiously interests professor of strategy is how the world will adapt longterm strategy to foster sustainable and inclusive growth moving forward. Thank you. Malpass, over to you. Thank you. I heard the first part but i miss the last part of that comment. Thank you for your work. The sound went out, im sorry. Im sorry for that. As i said, i think what interests me, in the speech, you told us about how the world bank is going to rise to the challenge posed by the covid19 pandemic. What im interested in as well as how the world bank is going term strategyungs moving forward given the current or challenge. Ok, thank you. Im sorry, we have kind of a delay in the system. If im hesitating in a response, it is a little bit the delay. Your points were very well taken. One of the things we are trying the spots of International Coordination and working with people that are the effective in delivering mission of the world bank. We are very focused on developing countries, but we also recognize the pandemic is a grave crisis for the developed countries as well. One of the things we want to do is learn from developed countries what is applicable in developing. One of the areas where people all around the world have some of the same challenges is in getting back to school. How do you do it well and effectively . Im glad to hear that Frankfurt School has had more participation by developing country students. Thats great and that shows the importance of doodle conductivity. Theres nothing good in total thats coming out of the pandemic, but there are good things in terms of the advances oftechnology and the uses distanced learning that i think are quite positive. Whatn sometimes say challenges are making us stronger. One of the things we can try to strengthen is the way people in confronting the same challenge. It is interesting and humbling that everyone around the world is facing the same thing at the which is a very rare, if ever, occurrence for humankind. We can try to find ways we in common tackle communication challenges, the technology. Hallenges, and the recovery thank you so much, mr. Malpass. Back to you, professor. I found it very interesting what you said at the end, that we are learning together and we have to frame the crisis together and we have to find solutions together. Do you also feel this could become the template of how we can also tackle the climate and align policies within the Global Community, given that fundamental challenge we are all facing . There can be a lot of learning experience from people working together to confront the covid challenge. Remarks,ioned in my the key effect of the Climate Change is lower carbon electrician emissions from electricity production and it is proving a challenge around the world. Different countries approach it differently. Approachesre many that are useful and needed. It is a little like the covid challenge where we need action in multiple areas in order to make headway. The same is true on climate. That meansuntries, they dont have Electricity Generation at all, so they need to start from a low level of output and have low carbon sources that can push them forward. For other countries, they already have generation in a high carbon variety of Electricity Generation. That is quite a different type of approach to what they are going to do. One example of that is south africa, which has substantial Electricity Generation of the high carbon output. In pakistan, there is a big of electricity underway, even when the come hydroelectricod generation capacity and the access to natural gas from the middle east, and a large investment in solar and wind that the world bank has been instrumental in encouraging. Dichotomy where the total Energy Production is going up on the high carbon side , when what you want is lower carbon, very low Carbon Energy sources. These are energies that i think dialogue can help, data can help, and knowledge can help that is similar to covid. Excellent conversation, gentlemen. You raised excellent points. We will now take a few questions from our future leaders. Please allow me to turn it over to our school students. So much for your insight. , with my germany friend from india. We are both students at Frankfurt School. We have thought about the role and responsibility of the European Union, especially during this pandemic and beyond. As you mentioned, the pandemic has posed major challenges not just to developing countries but also to developed ones. As a result of Greater International Cooperation and collective responsibility needed in this time of crisis. On these lines, mr. Malpass, our question is, are the effective policies the world bank and the European Union together have implemented in order to support the developing ,conomies during the pandemic and if not, are there any upcoming are there any upcoming policies that you think can significantly contribute to resiliency from the pandemic . Thank you. Interesting question. We work closely with various parts of the European Union. It is a large set of policymakers and also funding for some of the Development Programs around the world so we interact on each of those levels and National Capitals as well. I think we can Work Together and we do that, world banks are heavily involved in the organizations that are involved in vaccines, therapeutics and the development of vaccinations and things. We work with the global funds which the European Union has been a participant in. It is a good relationship. I would say some of the challenges could be more focused. One of them is the Eastern European side of the European Union faces large Energy Challenges where improvements can be made and that is one aspect of it and i want to mention the leadership of the European Union in human rights focus can continue and be a leader for the world. In other areas i want to focus development itself, very much a country level and Knowledge Level activity, the world bank to interact with Companies Directly and invite additions and comments and cofinancing. I mentioned our covid19 process, covid19 response is designed to invite cofinancing by the European Union and our vaccine programs as well allow and invite cofinancing and that is one way the European Union could apply funding into the most dire countries around the world if it were so inclined. A very efficient way to extend and they welcome by this pandemic, about developing economies especially with that. The life of those who do not have the same privileges as we do. The effect of the Climate Crisis, our countries remain affected, and the Climate Crisis is a challenge created officially, developing countries, what more can be improved by the world bank for our generation . Thank you. In my remarks i alluded, with Electricity Generation was developed so this is captured, using and continuing to expand their high carbon output at a time when it has global effects, global effects through Global Public good. We are working actively on various aspects to recognize the costs apply to people outside countries own borders, working on marine plastics, a large email or of plastics into the worlds ocean which has an effect including ecuador which has substantial investments and dependency, efficient history and one of the main states not affected by the environment and climate issues. We can work to gather the world bank, these are Umbrella Trust funds welcoming cofinancing from countries around the world that are specifically aimed at addressing climate challenges. As i mentioned in my remarks for the financier of climate benefits through various programs in developing countries that provide information on a global basis. Really important, so many key points in we are fortunate to have them joining us, africa, latin america, europe, north america, some of todays may be unemployed, in the silent epidemic of rising genderbased environments and others struggling with multiple crises, with basics access to food and clean water and healthcare. Messages of hope, professor stigler, what is one final thought you would like the audience to take away . Important, look at the opportunities but at the same time we use private enterprise, and dealing with this covid19 crisis how we can foster private enterprise. A question for you. I cut from my spoken remarks the section on how to help entrepreneurs in this time of crisis and change. To continue the point doctor siegel made. And preparing for different kinds of economy close to covid19, trying to allow assets to move to the new economy how do you allow people in their skills to adjust to a new environment. Reflecting the previous assets in right offs, ways that many of the assets and skills, the Human Capital has to be utilized in a different way in the post covid19 environment, you need people to embrace change and a global spirit, the resilience in the future. I am heartened by the vision you shared today, utilizing the institution to tackle the impact of this pandemic, to value each other and human connections. It gives me a nuisance of optimism. And in the face of this challenge. We can follow the conversation and the information on the events that take place starting october 12th. Thank you for watching. On tuesday the house subcommittee examines Voting Rights and combating misinformation this election year, witnesses include the secretary of state and member of the cuyahoga ohio county board of elections at 1 00 pm eastern on cspan. At 9 00 pm the debate between the candidates running for governor in montana, republican congressman greg forte faces democrat mike kony. At 9 00 pm, issues of mail in voting, speakers include majority whip James Clyburn and former attorney general eric holder. At 1 00 pm the Brennan Center for justice holds a virtual event, imagining rule of law with former new jersey governor Christine Todd whitman, former us attorney and former solicitor general donald for really. You are watching your unfiltered view governments, created by macs Television Company is a Public Service and brought today by your television provider. A look at the Economic Impact of the coronavirus and necessary protocols for reopening schools and more businesses. This hearing from the joint Economic Committee is just under 2 hours. Welcome to the next committee hearing, with failure to the coronavirus. Mike lee from