By now it has become abundantly clear there will be no broad-based recovery without an end to the health crisis. Access to vaccination is key to both. But inequitable vaccine distribution is not only leaving untold millions of people vulnerable to the virus, it is also allowing deadly variants to emerge and ricochet back across the world. It need not be this way. That is why we are calling today for a new level of international support for – and implementation of – a stepped-up coordinated strategy, backed by new financing, to vaccinate the world.
A recent proposal from IMF staff puts forward a plan with clear targets, pragmatic actions, and at a feasible cost. It builds on and supports the ongoing work of WHO, its partners in the Access to Covid-19 Tools (ACT) Accelerator initiative and its global vaccine access programme Covax, as well as the work of the World Bank Group, WTO and many others.
At an estimated $50 billion, it will bring the pandemic to an end faster in the developing world, reduce infections and loss of lives, accelerate the economic recovery, and generate some $9 trillion in additional global output by 2025. It is a win for all – while around 60% of the gains will go to emerging markets and developing economies, the remaining 40% will benefit the developed world. And this is without taking into account the inestimable benefits on people’s health and lives.
This story is from the June 01, 2021 edition of The Times of India Hyderabad.
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This story is from the June 01, 2021 edition of The Times of India Hyderabad.
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