ILO Warns Countries, Says Inequalities Pose Risks To Economic Stability, Social Cohesion

537 views | Akanimo Sampson | December 30, 2019

ILO’s Landmark Celebration

Rallying other international agencies attending the Paris G7 meeting behind it, the International Labour Organisation (ILO) has loudly warned that increased inequalities within countries pose risks to inclusive growth, economic stability and social cohesion, both in advanced economies and in developing countries.

The global labour agency in a joint statement with the other major agencies attending the Paris G7 meeting, called for countries to urgently implement a range of measures to tackle inequality.

The joint communiqué, signed by the French Minister of Labour and the heads of the ILO, International Monetary Fund (IMF) and the Organisation for Economic Cooperation and Development (OECD), insisted that “increased inequalities within countries pose risks to inclusive growth, economic stability and social cohesion, both in advanced economies and in developing countries.”

The statement points to the absence of strong and effective policy responses to citizens’ calls for social justice, and states that high inequalities “contribute to the erosion of trust in democratic institutions and may ultimately challenge the foundation of our rules-based international cooperation system.”

ILO Director-General, Guy Ryder, said “the fight against inequalities is inextricably linked with the battle for greater social justice. It is imperative that we work together to address these critical issues. This is precisely the commitment we have all made in the 2030 Agenda for Sustainable Development .”

The communiqué is calling for more investment in education, health and social protection. This, it says, would play an essential role in generating equal opportunity, supporting social and political stability, addressing income inequalities and protecting vulnerable groups.

Increased social spending can also address the challenges emerging from demographic shifts, technological developments and climate change, it adds.

This would also support the G7 social members’ call for a multilateral dialogue and coordination to reduce inequalities.

The issue of inequality has been debated at a number of G7 meetings during the French Presidency , notably at the G7 Labour and Employment Ministers meeting in June 2019 and the G7 Leaders’ Summit in August 2019.

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