Low vaccination rates dangerous for all: IMF

International Monetary Fund MD Kristalina Georgieva says we are not going to succeed in overcoming the economic crisis unless we bring the pandemic to an end

Vaccinating the world is the most effective way to boost global output in the near term, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Tuesday, warning that low vaccination rates in some countries is “dangerous” for everyone.

“It is now increasingly clear to leaders everywhere and to ordinary people that we are not going to succeed in overcoming the economic crisis this pandemic triggered, unless we bring the pandemic to a durable end,” Georgieva said at a press conference in response to a question from Xinhua.

The IMF chief participated in the joint press conference together with the heads of the World Bank Group, the World Health Organization (WHO) and the World Trade Organization (WTO), with a focus on a new joint call on scaling up equitable access to Covid-19 vaccines.

Georgieva noted that countries with more fiscal space and rapid vaccinations are coming out of the crisis faster, but those, especially with low vaccination rates are falling further behind, and “that is dangerous for everyone because it would hold the global recovery back.” According to IMF estimation, a faster vaccination rollout could inject the equivalent of $9 trillion into the global economy by 2025, due to a faster resumption of economic activity.

“And it is important to recognise that 60 per cent of the benefits, this 60 per cent of this 9 trillion would go to emerging markets in developing countries, but 40 per cent will go to advanced economies,” said the IMF chief. “So we mobilise everybody to step forward for the benefit of all,” she added.

Georgieva also noted that building on the work of the WHO, WTO, World Bank and many others, IMF staff have put forward a proposal — a $50 billion-dollar plan — to end the pandemic. 

Canada allows mixing of Covid vaccines

Canada’s National Advisory Committee on Immunization (NACI) has announced its updated guidance to allow mixing and matching approved Covid-19 vaccines in most scenarios. Under the updated guidance, people who received a first dose of the AstraZeneca vaccine may receive Pfizer-BioNTech or Moderna for their second dose, unless contraindicated. Four vaccines, developed by Pfizer, Moderna, AstraZeneca and Johnson & Johnson, have been authorised for use in Canada to date, Xinhua reported. The new guidance also advises that the Pfizer and Moderna vaccines can be mixed for first and second doses. But it is not recommending AstraZeneca after a first shot of Pfizer or Moderna.

Pak sees less than 2k cases for 2nd day

With 1,843 new infections, Pakistan on Wednesday reported less than 2,000 Coronavirus cases for the second consecutive day, pushing the national tally to 924,667. The positivity ratio across the country stands at 3.9 per cent. Pakistan has now reported a positivity ratio below 5 per cent for the ninth consecutive day.

Covid certificate goes live in seven EU member states

The European Union’s (EU) new Digital Covid Certificate reached an important milestone on Tuesday when it was launched in the bloc’s seven member states one month ahead of the scheme’s scheduled start on July 1. It went live in Bulgaria, the Czech Republic, Denmark, Germany, Greece, Croatia and Poland.

Lockdown in Melbourne extended

Health authorities in the Australian state of Victoria extended a lockdown in the capital of Melbourne as the latest outbreak of Covid-19 active cases rose to 60 by Wednesday. The week-long lockdown, which was due to end on Thursday, will continue for at least another seven days in Melbourne, with restrictions being eased in regional Victoria, the Xinhua news agency reported.

Also Read: Amid scarcity, no Covid-19 vaccination drive today in Mumbai: BMC

3,71,489
No. of new cases reported globally in the past 24 hours

17,12,73,305
Total no. of cases worldwide

35,67,234
Total no. of deaths worldwide

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