An end to the epidemic is possible at a cost of about 50 billion USD, notes the International Monetary Fund | Economie

An end to the epidemic is possible at a cost of about 50 billion USD, notes the International Monetary Fund |  Economie

a International Monetary Fund (IMF) Friday (21) a proposal was released worth $ 50 billion to end the Covid-19 epidemic, vaccinating at least 40% of the population in all countries by the end of 2021 and at least 60% by the first half of 2022.

International Monetary Fund officials said doing so would pump the equivalent of $ 9 trillion into the global economy by 2025 due to a faster resumption of economic activity.The rich countries are likely to be the biggest beneficiaries.

The Director of the International Monetary Fund, Kristalina Georgieva, said at a health summit organized by the European Commission and the Group of Twenty It makes sense for rich economies to increase donations to ensure a faster end to the pandemic.

“Advanced economies – which have been asked to contribute more to the effort – will likely see the largest return on public investment in recent history, taking 40% of GDP gains and nearly $ 1 trillion in additional tax revenue,” she said.

IMF Managing Director, Kristalina Georgieva, pictured: Reuters

The proposal by IMF chief economist Gita Gopinath and team economist Rocher Agarwal expands efforts already underway to reach the Tool Accelerator Against Covid-19 (ACT) by the United Nations, the World Health Organization and other groups

Implementing the plan will cost about $ 50 billion, with $ 35 billion paid through donations from rich countries, private and multilateral donors, and the remaining $ 15 billion funded by national governments using low-interest, or interest-free, funds. One of the multilateral development banks.

The IMF authors said the G20 countries have already recognized the need for about $ 22 billion in grants to tackle the crisis, leaving about $ 13 billion in additional grants needed to reach $ 50 billion.

Without urgent action, they added, many emerging and developing countries may have to wait until the end of 2022 or later to bring the epidemic under control.

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About the Author: Camelia Kirk

"Friendly zombie guru. Avid pop culture scholar. Freelance travel geek. Wannabe troublemaker. Coffee specialist."

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