• Live
    • Audio Only
  • google plus
  • facebook
  • twitter
News > U.S.

Vaccination Is the Fastest Way for the World Economy to Recover

  • A health worker prepares a dose of COVID-19 vaccine, Beijing, China, April 7, 2021.

    A health worker prepares a dose of COVID-19 vaccine, Beijing, China, April 7, 2021. | Photo: Xinhua

Published 15 April 2021
Opinion

The IMF holds that accelerated vaccinations will increase global output by US$9 trillion between now and 2025.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that the number one priority for policymakers today is to "accelerate vaccinations everywhere for everyone."

RELATED:

Sputnik V: No Cases of Blood Clots - Study

"A shot in the arm is the fastest way for the world economy to recover. And it is bringing tremendous value for all countries," she stressed, adding that accelerated vaccinations will increase global output by US$9 trillion between now and 2025.

Warning against a "dangerous divergence" that threatens to leave developing and low-income countries behind in the process, she has also advocated a green, inclusive and fairer recovery.

While the global economic outlook has brightened due to massive policy support and vaccine rollouts, recoveries are diverging dangerously across and within countries.

"It is so very important to lift the world economy by paying attention to this dangerous divergence. And this is why we are calling for collaboration of countries and comprehensive support to those falling behind," Georgieva said,

Georgieva also urged the international community to provide more grants, concessional financing, debt restructuring, or even debt relief to those countries with vulnerabilities and high level of debt.

In the latest World Economic Outlook released last week, the IMF projected that the global economy will grow by 6 percent in 2021. A debt-financed green investment plan combined with carbon pricing could boost global economic growth for many years, creating around 12 million net new jobs through 2027.

Comment
0
Comments
Post with no comments.