Paying it forward for the next pandemic – POLITICO

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POLITICO’s JENS STOLTENBERG INTERVIEW: Watch live from 10.30 a.m. ET

WHERE TO CATCH GLOBAL INSIDER: I’m at the Collision Conference in Toronto — the biggest conference in North America (35,000 participants) that tackles the politics and regulatory aspects of tech head-on. Global Insider is leading a session on deglobalization at 3 p.m. ET. Watch the livestream.

WHO — MONKEYPOX DECISION THURSDAY: While the World Health Organization suggests we’re not supposed to call this pathogen monkeypox anymore, in the absence of a new official name, journalists are in limbo. On the medical issue: WHO will meet Thursday to decide whether to declare a public health emergency of international concern.

TORONTO POSTCARD — FROM COLLISION CONFERENCE

Some African startups (visa problems) and crypto kings (cash problems) are missing, but the fourth edition of the enormous Collision Conference — the North American edition of the even bigger Web Summit — is underway.

Collision, which fled to Toronto from New Orleans in 2019 after a dispute between conference organizers and the Trump administration over its immigration policies, opened with an attack on tech god Bill Gates. At the opening plenary, Dapper Labs CEO Roham Gharegozlou laid into Gates for criticizing crypto and NFTs on Monday as being “100% based on greater fool theory.”

“It’s very typical that people who built a lot of value, and created a lot of value in previous technology shifts, tend to miss the future technology shifts,” Gharegozlou snarked, before adding “I don’t worry too much about people that don’t see the future.”

Collision Conference chief Paddy Cosgrave said many crypto speakers were unable to join the conference because of the turmoil in the sector, including Celsius, where $12 billion in customer funds are currently frozen. “It’s going down, down very fast. There’s a huge amount of interest in understanding what is going on,” Cosgrave said.

“It’s a fundamentally unsound business model,” said Kathleen Breitman, a blockchain CEO, about Celsius during a panel about cryptocurrencies. She blames a crypto-can-only-go-up culture for the current market turmoil.

Bitcoin has lost around two-thirds of its value since November, and around 25 percent of its value in the last week.

INTERVIEW — PETER SANDS, EXECUTIVE DIRECTOR OF THE GLOBAL FUND

The Global Fund finances efforts to defeat HIV, tuberculosis and malaria around the world. Since its creation in 2002, the partnership has parceled out more than $50 billion in around 100 countries.

You’re hunting for your next three-year round of money, how is it going?

The next replenishment conference will be hosted by President Joe Biden in New York (in September). And my target is raising $18 billion, a 30 percent increase compared to 2019. When you do the math on what’s happened to HIV, TB and malaria as a result of Covid-19, we’ve basically gone backwards or stayed flat across most metrics.

What is the U.S. putting in?

They’ve been explicit in their intent to put in $2 billion for financial year 2023 and $6 billion in the three-year cycle. So we have to find $2 for every $1 we get from the U.S. We’re at the real crunch point, right now.

Where should we watch next?

We have to broaden the donor base. Germany might be saving something for the G-7 summit at the end of the month, and we got the first private donations at the World Economic Forum. Now we’re talking to middle-sized donors and asking them to step up by more than the 30 percent increase we’re aiming for overall.

What’s the one thing you wish more potential donors understood?

People who lack proper nutrition are more vulnerable to infectious diseases. Most conflicts kill more people from infectious diseases than they kill from bullets and bombs. My point is that all these crises aren’t sitting in neat little boxes.

It’s not that we have a war, or a pandemic, or a debt crisis, or a food crisis. From the point of view of the people who are most at risk, all these things kind of pile on top of each other. We’ve got to get better at managing the interactions between cascading crises.

Who are your big targets?

Australia is a significant opportunity. Let’s just say that they’re at a fraction of where Canada is.

A quarter of the world’s TB is in India. But India is our single largest source of supply (of drugs). So India is in transition and it’s an opportunity for leadership in a fund they have benefited from massively.

Which government agencies will make this happen?

Development [aid] ministers have typically been the interface point. But the calls on development budgets at the moment are [huge]: They’ve spending on Covid, Ukraine, now the food crisis.

But now health ministers are looking at it from a health security point of view and finance ministers are looking at it from an economic security point of view. Gita Gopinath, who’s the first managing deputy managing director of the IMF, spoke at the launch of our investment case. That would never have happened before.

When it comes to preparedness, what’s common across pandemics?

It’s exactly the same capabilities. The existing infectious diseases — if we are blunt about it — were and really are pandemics, only we don’t call them that because they don’t affect people in rich countries.

So how do we avoid getting caught out next time?

Being more intentional about building multipathogen capabilities now [in the wake of Covid]. Preparedness has a very sharp decay curve: People lose interest pretty quickly. This is a solvable problem, and it would require a tiny fraction of what we have deployed on Covid overall to prepare for it.

Is it likely we’ll need to see a debt renegotiation to free up the money for investing in pandemic preparedness?

It is going to be extremely challenging. We now also have the knock-on consequences of war in Ukraine. So energy prices, food prices and all that kind of stuff [are] going to put more pressure on government budgets. If you look at the World Food Programme’s modeling of the impact of the food crisis, it’s very highly correlated with the countries we are most focused on.

ELECTION CORNER 

Check out POLITICO’s analysis of the impacts of three elections on U.S. foreign policy.

ISRAEL — FIVE ELECTIONS IN THREE YEARS: After months of defections, the inevitable finally is happening, Naftali Bennett’s seven-party government collapsed. Expect an October election, and for Foreign Minister Yair Lapid to serve as caretaker prime minister. The government’s collapse is a win for former PM Benjamin Netanyahu, the opposition leader.

Watch for:another Netanyahu comeback. Biden still plans to visit in July.

FRANCE — MACRON’S BIGGEST EFFECT IS RISE OF POLITICAL EXTREMES: For a man who promises to abolish old left-right divides hobbling French politics, President Emmanuel Macron has done a pretty good job cementing those divides. After a complacent presidential campaign, and a nearly non-existent parliamentary one, Macron is now without a parliamentary majority and firmly wedged between a rising far-right and far-left. Rym Momtaz","link":{"target":"NEW","attributes":[],"url":"https://twitter.com/rymmomtaz/status/1538639849275596801?s=12&t=8CiCl7W8VVKhkLK6yHL2pQ","_id":"00000181-8c79-d281-a989-ddf9b3180004","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000181-8c79-d281-a989-ddf9b3180005","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>More from our Paris correspondent Rym Momtaz.

Prime Minister Élisabeth Borne tendered her resignation. Macron has rejected it, for now. More in POLITICO’s Paris Playbook.

COLOMBIA — LEANING LEFT: America’s closest South American ally and the continent’s third-largest economy will have an avowed leftist as president: Gustavo Petro, a former guerrilla rebel in his youth. Petro wants, among other things, to renegotiate the country’s free trade agreement with the U.S. No surprise then that Biden was quick to offer his congratulations.

U.K. — DO I NEED TO CARE ABOUT RAIL STRIKES? Not yet. There isn’t a high degree of coordination among unions either across Europe or tran-Atlantically. If we do see a wave of strikes in the summer and fall, it will be driven by underlying factors like inflation, rather than any new trend in organizing.

In a British domestic political context, the strikes matter because they’re the largest in a generation. The Johnson government is also seeking to categorize workers as strikers or “strivers” — an echo of Margaret Thatcher’s approach to labor issues. The question is whether the opposition Labour Party will take the bait.

IRAN — NUKE DEAL COLLAPSING, NEXT STOP BANKRUPTCY: If you think Western inflation is bad, spare a thought for the one in three Iranians who live below the poverty line and are dealing with 40 percent inflation. After weeks of protests and the expected collapse of nuclear talks, Kourosh Ziabari argues that bankruptcy is looming.

HUMAN RIGHTS — UYGHUR FORCED LABOR ACT IN FORCE:The new law bans products from the U.S. if they have any links to Xinjiang, where Beijing continues to crack down on Uyghur Muslims. More on the state of the problem from the Xinjiang Data Project.

Given the struggles companies have keeping track of their supply chain components, the potential for getting caught in the law’s enforcement net is significant. Here is the U.S. Government enforcement strategy.

EU’S $20 MILLION MANHATTAN TOWNHOUSE PLAN: The EU needs a new home for its ambassador to the United Nations, who is currently in rented quarters, and the proposed 500-square-meter (5,381-square-foot) apartment is causing more than a few jaws to drop in Brussels.

While EU officials presented their preferred townhouse as “adequate” for the needs of the bloc’s diplomatic service — the online listing for the property chooses to focus on the claim that “no expense was spared” in installing facilities like a “leather-clad commercial elevator,” Ralph Lauren “leather-wrapped wallpaper” and some decidedly off-brand Union Jack carpet.

Reality check: While any $20 million apartment is excessive by most standards, it is what you have to pay to be in the thick of the action in New York.

Did you know? The EU has form when it comes to interesting New York real estate choices: the bloc’s deputy chief of mission to the U.N. lives in Mick Jagger’s old townhouse in the East 70s.

HOW DARE THEY: Former German Chancellor Gerhard Schröder, who has long relied on Russian state-owned companies for his income, is fighting a decision by the Bundestag’s budget committee to strip him of his work office and other post-Chancellery privileges.

EY’S “PROJECT EVEREST” PARTNER PAY DAY: Thousands of EY audit partners are in line for multimillion-pound payoffs, which would be the result of a plan to split the accounting firm’s auditing and consulting businesses.

SPOTTED: Secretary of State Antony Blinken headlined a Chiefs of Mission (aka ambassadors) Conference reception at Meridian International Center on Tuesday night, welcoming over 100 U.S. ambassadors and chiefs of mission who are in Washington to network. Also spotted: Deputy Secretary of State Wendy Sherman; Sen. Chris Coons (D-Del.); Under Secretaries of State Uzra Zeya, Bonnie Jenkins, John Bass; Acting Under Secretary of State Elizabeth Allen; Chief of Protocol Rufus Gifford; Export Import Bank President Reta Jo Lewis; Assistant Secretary of State for Educational and Cultural Affairs (and former Meridian President) Lee Satterfield; Ambassador to the U.N. Linda Thomas-Greenfield; Ambassador to Ukraine Bridget Brink; Ambassador to Turkey Jeff Flake; CEO of the Motion Pictures Association Ambassador Charles Rivkin; and WaPo’s Josh Rogin.

Boris Johnson is neither good chap nor great man","link":{"target":"NEW","attributes":[],"url":"https://www.thetimes.co.uk/article/boris-johnson-is-neither-good-chap-nor-great-man-vkw2lmsrg","_id":"00000181-8c79-d281-a989-ddf9b31f0000","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000181-8c79-d281-a989-ddf9b31f0001","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>Boris Johnson is neither good chap nor great man: so it’s time to codify Britain’s unwritten constitution, argues Clare Foges.

“Do countries need freedom to achieve prosperity”","link":{"target":"NEW","attributes":[],"url":"https://www.atlanticcouncil.org/in-depth-research-reports/report/do-countries-need-freedom-to-achieve-prosperity/","_id":"00000181-8c79-d281-a989-ddf9b31f0002","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000181-8c79-d281-a989-ddf9b31f0003","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>“Do countries need freedom to achieve prosperity”? Dan Negrea and Matt Kroenig investigate. Also check out Atlantic Council’s new Freedom and Prosperity Center.

Thanks to editor John Yearwood and producer Hannah Farrow.

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