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The IMF Chief states that vaccine policy is the most important economic driver

London — Cristalina Georgieva, head of the International Monetary Fund, said at CNBC’s Global Evolve Summit on Wednesday that vaccine policy is on every other economy this year as the world seeks to recover from the coronavirus crisis. He said it would take precedence over policy.

“This year and perhaps next year’s vaccination policy will be the most important economic policy. In terms of importance, it may even defeat monetary and even fiscal policy,” Georgieva told CNBC’s Jeff Cutmore.

“A prerequisite for leading the world to sustainable high levels of growth everywhere is to vaccinate all, which has not yet been done. [a] Currently two truck vaccination passes. We have to overcome it. “

The fund will end the crisis in April “More and more visible.” At that time, the agency raised its economic forecasts for the global economy on the basis of rising vaccination rates and ongoing monetary and fiscal stimulus.

As a result, the IMF forecasts global GDP growth of 6% this year and 4.4% next year. However, forecasts are highly dependent on how vaccination programs evolve, including in low-income countries.

Cristalina Georgieva, Managing Director of the International Monetary Fund (IMF), will give a curtain razor speech previewing key issues to be addressed at the Annual Meeting in Washington, DC on October 8, 2019.

Nicholas Cam | AFP | Getty Images

IMF last month $ 50 billion It should be spent to ensure the faster deployment of the coronavirus vaccine, which could ultimately generate $ 9 trillion in profits for the global economy, he said.

Georgieva said on Wednesday that the plan was “the highest rate of return on investment in our lifetime.”

The fund also called for at least 40% of the world’s population to be vaccinated by the end of the year and at least 60% to be vaccinated by June 2022.

According to Our World in Data, only about 21% of the world’s population receives at least one Covid-19 vaccine. In the United States, 52% of people received their first shot. In the UK, that number is 62% and in the European Union it is 45%.

As a way to boost the post-pandemic economic recovery, some parts of the world have developed certificates that allow travelers to show their status of vaccination. For example, the European Union is in the process of deploying Covid-19 digital certificates. This indicates whether the individual is vaccinated, negative for the virus, or has some degree of vaccination.

“Having a vaccination card that shows when you were vaccinated is a very useful tool. It has already been applied. I think we need to consider applying it more widely,” Georgieva said. Stated.

Some industries have suggested using vaccination certificates to attend large rallies such as music concerts.

The IMF Chief states that vaccine policy is the most important economic driver

Source link The IMF Chief states that vaccine policy is the most important economic driver

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