Current location:Global Grid news portal > sport
Interview: IMF official warns lack of vaccination in low
Global Grid news portal2024-05-21 15:06:32【sport】2People have gathered around
IntroductionA man receives a dose of the COVID-19 vaccine at a hospital in Tripoli, northern Lebanon, on April 9
A man receives a dose of the COVID-19 vaccine at a hospital in Tripoli, northern Lebanon, on April 9, 2021. (Photo by Khaled/Xinhua)
"The other reason that it's so important to have access everywhere including in low-income and emerging economies is that, in the absence of that, the pandemic will just drag on and then there'll be new mutants," said Petya Koeva Brooks, deputy director of the IMF's Research Department.
"And that would hurt everybody, including advanced economies," she added.
by Xiong Maoling, Tan Yixiao
WASHINGTON, April 12 (Xinhua) -- It is important for low-income and emerging economies to have more access to vaccination, an International Monetary Fund (IMF) official has said, warning that without widespread vaccination, the pandemic will not end, which would hurt all.
There is uncertainty surrounding global economic forecasts, and the chief source of that uncertainty is the path of the pandemic and the vaccination process, Petya Koeva Brooks, deputy director of the IMF's Research Department, told Xinhua in a recent interview.
The latest World Economic Outlook (WEO) report released last week projects that the global economy will grow by 6 percent in 2021, 0.5 percentage point above the January forecast, with the progress of vaccination rollout in some countries and additional fiscal support in large economies, particularly the United States.
The IMF's baseline assessment is that advanced economies, as well as some emerging markets, will enjoy wide availability of vaccines in the second half of this year, but it will not happen to the rest of the world only till 2022 or even beyond, Brooks said.
In a downside scenario, with delayed vaccination and a more difficult path of the pandemic, the global economy is expected to grow by 4.5 percent, 1.5 percentage points lower than in the baseline projection, according to Brooks.
"I think we are hoping, and we are calling for stepped up production of vaccines and exchange of information in that area," she said.
A woman receives the COVID-19 vaccine in Rabat, Morocco, on April 8, 2021. (Photo by Chadi/Xinhua)
The IMF official noted that excess vaccines in advanced economies should be channeled to low-income countries, and policymakers should also make sure that the COVAX facility, an international initiative co-led by the World Health Organization and partners to ensure equitable global access to COVID-19 vaccines, is fully funded.
"The other reason that it's so important to have access everywhere including in low-income and emerging economies is that, in the absence of that, the pandemic will just drag on and then there'll be new mutants," Brooks said.
"And that would hurt everybody, including advanced economies," she continued. "So in that sense, it's also in the self-interest of advanced economies to help as much as possible."
Aside from the virus, Brooks highlighted other risks to global economic recovery, such as trade and technology tensions.
"I think now, more than ever, we think that the global economy would benefit from a more open, stable, transparent, and rules-based international trade system," she said.
A boy sits by closed shops at the Grand Bazaar in Tehran, Iran, April 10, 2021. (Photo by Ahmad Halabisaz/Xinhua)
According to the latest WEO report, recoveries are diverging dangerously across and within countries, as economies with slower vaccine rollout, more limited policy support, and more reliance on tourism do less well.
Brooks said the main worrying thing is that the progress low-income countries and some emerging markets had made to catch up the income of advanced economies "is at risk of being undone with this crisis," Brooks said.
The IMF official noted that part of the reason for the slow recoveries in low-income and some emerging economies lies with the financial support they have been able to provide domestically.
The world as a whole has provided fiscal support that accounts for 9 percent of GDP, according to Brooks. In advanced economies, that number is over 16 percent, while in low-income countries, that number is 1.7 percent. "That's an issue," she said.
The multilateral institution has so far supported 86 countries with over 110 billion dollars, using a variety of instruments, and it has planned to propose a new Special Drawing Rights allocation of 650 billion dollars to help meet the long-term global need to supplement reserves, according to the IMF website.
Photo taken on April 9, 2021 shows a closed shop in Rawalpindi of Pakistan's Punjab province. (Xinhua/Ahmad Kamal)
The WEO report noted that uneven recoveries are also occurring within countries as young and lower-skilled workers remain more heavily affected, and women have suffered more, especially in emerging markets and developing economies.
The crisis has also revealed that the social safety nets would need to be enhanced on a more permanent basis to work against poverty observed during the crisis, Brooks told Xinhua.
The latest WEO report projected that the Chinese economy will grow by 8.4 percent in 2021, 0.3 percentage point above the January forecast.
The upward revision reflects improved external environment with stronger global growth, according to the report.
"Another positive factor is that we're seeing more demand for pandemic-related goods than what we had anticipated previously," Brooks said, noting that the pandemic is lasting longer than expected.
Address of this article:http://bahrain.olivelawfirm.net/content-56a699915.html
Very good!(5693)
Related articles
- Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
- Drake pushes back after Rick Ross accused him of getting a nose job in Champagne Moments lyrics
- Suggestions made by Chinese lawmakers move toward implementation
- Event to promote love of reading to be held in Kunming
- Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
- More innovation urged in fight to end tuberculosis
- Project renovating old residences revitalizes ancient city
- Australian PM demands accountability for citizen's death in Gaza
- Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
- Overseas hanfu clubs serve as cultural ambassadors
Popular articles
- Russian theater director and playwright go on trial over a play authorities say justifies terrorism
- Grimes screams on stage after having 'major technical difficulties' during chaotic set at Coachella
- Stock market today: Asian shares track Wall Street slump triggered by strong US spending data
- Sydney church stabbing being treated as act of terrorism, police say
Recommended
Yu Darvish extends scoreless innings streak to 25 in Padres' 9
At least 9 dead, 15 missing after migrant boat sinks near Italy
Russia says int'l cooperation necessary in fighting terrorism
China launches new remote sensing satellite
Ship that caused Baltimore bridge collapse has been refloated
Palestinian death toll in Gaza exceeds 33,000
Hong Kong's top talent scheme approves 59,000 applications
China's tiger and leopard park sees over 35 cubs born in past year
Links
- Mideast Updates: G7 warns of sanctions on Iran for attack on Israel
- Drama teacher, 78, at prestigious £51,000
- Mail's Sarah Vine wins her FOURTH award as Lucy Letby podcast is acclaimed at the Press Awards
- North Korea says it tested 'super
- Can US cities fine homeless people for sleeping outside?
- Prince Andrew enjoys horse
- Kitty set out to have casual sex for a year to see if women really can have no
- Live video of man setting himself on fire outside court challenges news organizations
- As a super
- Chelsea beats Barcelona 1