IMF, WBG, WHO and WTO urge route against Covid-19

Global bodies IMF, WBG, WHO and WTO called for a new $ 50 billion roadmap in health, trade and finance to end the pandemic and ensure global recovery.

Kristalina Georgieva, Tedros Adhanom Ghebreyesus, David Malpass and Ngozi Okonjo-Iweala, leaders of these organizations, made the call in a joint statement.

It echoes the economic analysis of the International Chamber of Commerce and the Eurasia Group, which advocate relatively modest investment by governments compared to the trillions spent on national stimulus plans and trillions lost in lost economic output.

But the critical element of this is that it effectively stimulates global vaccination and closes the equity gap.

«Raise our ambition and vaccinate more people faster: WHO and its COVAX partners have set a goal of vaccinating approximately 30% of the population in all countries by the end of 2021,» said the four leaders.

But this can reach even 40% through other deals and increase investment, and at least 60% by the first half of 2022, they added.

IMF

In general, the agencies urge governments to act on the investment opportunity to increase the supply of vaccines, oxygen, testing and treatment.

The leaders of the IMF, the WBG, the WHO and the WTO issued their joint statement as the World Health Assembly reached a conclusion and was scheduled to begin a round of G7 meetings, beginning with a meeting of Finance Ministers to later this week and after a World Health Summit. -chaired by the EU and Italy, which chairs the G20.

The joint statement is based on a recent analysis by IMF staff, which indicated that $ 50 billion in new investment is needed to increase manufacturing capacity, supply, trade flows and delivery, which would accelerate equitable distribution. of diagnostics, oxygen, treatments, medical supplies and vaccines.