The side event, titled “The Economics of Health For All—Taking Action,” was co-organized by the WCC, Public Services International, Medicus Mundi International, UNU IIGH, Society for International Development Colombia, Oxfam, and Geneva Global Health Hub. This event explored the critical intersection of economic policy and public health, with a focus on proactively "shaping markets." Evidence was presented on how fiscal policies, market regulation, and public investment can be strategically designed to prioritise long-term human and planetary wellbeing. The session connects directly to the WCC's thematic priorities of sustainable financing and equitable access. “The reality in which we currently live is characterized by a wealthier private sector, often accompanied by increasingly constrained public budgets,” said Gracia Violeta Ross, WCC programme executive for HIV, Reproductive Health, and Pandemics. “Wealth is concentrated among a few people.” The panel explored the worrying reality that public resources are being used for private companies’ investments. “The financing of health should rather be outcome-driven, taking into account the potential barriers created by intellectual property,” said Ross. “Health financing has to be sufficient in both quality and quantity, but today we face a situation in which health infrastructure is increasingly aligned with corporate and private companies’ interests.” Ross and the panelists noted that the medical-industrial complex is driving inflation and determining who gets care and who does not. “There are illicit financial flows and economies of monopolies,” Ross said. “Poor health leads to mistrust in public health measures and in government.” Panelists also addressed the need to have a whole-of-government approach because health is the responsibility of all, not only the ministry of health or the ministry of economy. “Health financing has to be aware of the neoliberal context in which we live,” said Ross. “Health financing needs to go beyond the short term.” Health is built in every sector of our society, agreed the panelists. “There are many discussions about market shaping, but we must be aware that the market might not be able to solve what was produced by markets to begin with,” said Ross. “We should avoid, at all costs, situations in which public funds end up paying debts caused by the financialization of health.” Finally, the panelists noted that financial justice is a prerequisite for pandemic preparedness. “Innovations in health should not be in the hands of monopolies because health is a human right,” said Ross. “The World Council of Churches reaffirms that health is a matter of justice and human dignity.” WCC will participate in 79th World Health Assembly WCC shares input at two gatherings for exploring equitable global health |
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