The COVID-19 pandemic is a global health crisis as well as an economic and social one. It has brought into sharp focus the structural failings of the global economy, particularly on those in the Global South living in precarity and suffering the worst impacts of the climate crisis. The long-term implications of the pandemic, coupled with existing structural failures in global finance, debt, and climate, will be profound for the hundreds of millions living in the Global South. There is a real risk of, not only an acceleration towards the next global recession, but also of significant reversals on the incremental gains made over the past several years to meaningfully reduce poverty, encourage deeper climate financing, advance human rights, and achieve the UN Sustainable Development Goals (SDGs).