'People need to be vaccinated' - IMF worries vaccine leading to economic disparity

Record ID: 1629019

  • Title: 'People need to be vaccinated' - IMF worries vaccine leading to economic disparity
  • Date: 27th July 2021
  • Summary: VALLEY STREAM, NEW YORK, UNITED STATES (FILE - DECEMBER 21, 2020) (REUTERS) ***WARNING: CONTAINS FLASH PHOTOGRAPHY*** NORTHWELL HEALTH DIRECTOR OF EMPLOYEE HEALTH SERVICES, MICHELLE CHESTER, ADMINISTERING MODERNA COVID-19 VACCINE TO LONG ISLAND JEWISH MEDICAL CENTER VALLEY STREAM NURSE, ARLENE RAMIREZ BAY SHORE, NEW YORK, UNITED STATES (FILE - MARCH 3, 2021) (REUTERS) VARIOUS OF JOHNSON & JOHNSON VACCINE BEING APPLIED TO NEW YORK TELEVISION AND MUSIC PROFESSIONAL, 67, SUSAN MAXWELL-TRUMBLE, AT NORTHWELL HEALTH'S SOUTH SHORE UNIVERSITY HOSPITAL NEW HYDE PARK, NEW YORK, UNITED STATES (FILE - APRIL 6, 2021) (REUTERS) VARIOUS OF CHIEF OF GENERAL PEDIATRICS AT COHEN CHILDREN'S MEDICAL CENTER, DR. SOPHIA JAN, ADMINISTERING THE PFIZER-BIONTECH COVID-19 VACCINE TO 16-YEAR-OLD HANNA RIVA GOLDBERG, 16-YEAR-OLD BRIANA JUSTICE AND 17-YEAR-OLD PAUL NAVARRO
  • Embargoed: 10th August 2021 20:02
  • Keywords: COVID-19 IMF International Monetary Fund global outlook Philippa Dunne coronavirus economic projections pandemic vaccine
  • Location: SEE SCRIPT BODY FOR LOCATIONS
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  • Country: USA
  • Topics: Budget/Taxation/Revenue,Government/Politics,United States
  • Reuters ID: LVA007ENMAB0N
  • Aspect Ratio: 16:9
  • Story Text: The International Monetary Fund on Tuesday (July 27) maintained its 6% global growth forecast for 2021, upgrading its outlook for the United States and other wealthy economies but cutting estimates for developing countries struggling with surging COVID-19 infections.
    The divergence is based largely on better access to COVID-19 vaccines and continued fiscal support in advanced economies, while emerging markets face difficulties on both fronts, the IMF said in an update to its World Economic Outlook.
    "Close to 40% of the population in advanced economies has been fully vaccinated, compared with 11% in emerging market economies, and a tiny fraction in low-income developing countries," Gita Gopinath, the IMF's chief economist, said during a news conference.
    "Faster-than-expected vaccination rates and return to normalcy have led to upgrades, while lack of access to vaccines and renewed waves of COVID-19 cases in some countries, notably India, have led to downgrades," she said.
    "It's all really clear... the disparity in vaccination rates and the availability of vaccines... people need to be vaccinated," said co-editor at TLRanalytics Philippa Dunne. "It's just going to get worse until people are vaccinated. And I would love to see the money that was sending people into certain areas of the world or out of the world, instead, sending vaccines to countries that need them."
    The Fund left its policy prescriptions for countries largely unchanged: prioritize health spending, especially for vaccinations, support vulnerable households and firms and invest in education, training and projects that boost productivity, and accelerate the transition to a low-carbon economy.
    (Production: Roselle Chen, David Lawder)
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