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to get out of the crisis, the world will have to play collectively

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The International Monetary Fund (IMF) has presented a plan to immunize 40% of the world’s population by the end of the year, and up to 60% of the population by the end of 2022. Cost of operation: $ 50 billion. But to get out of the Covid crisis, the world will have to play collectively.

A way out of this health and economic crisis is starting to emerge in developed countries, where hundreds of millions of people have already received their first dose of vaccine. Even so, the number of people infected continues to grow in many other less developed countries, where vaccine distribution is slower, and government support is weaker.

At the end of April, less than 2% of the African population had in fact been vaccinated, while more than 40% of the American population and more than 20% of Europeans had already received at least one dose of the vaccine against the Covid. -19. And in a hyper-connected world like ours, that’s obviously a problem.

At the IMF, we now admit that there will be no “lasting end” to the economic crisis without an end to the Covid crisis at the global level. This Friday, the agency therefore detailed a plan to end the pandemic. The goal would be to vaccinate at least 40% of the world’s population by the end of the year. And in the longer term, the IMF hopes that 60% of the world’s population can be vaccinated by the end of 2022.

Note that to date, around 1.6 billion vaccines have been administered worldwide to a global population of nearly eight billion people, according to data from the Financial Times.

A 50 billion plan

The IMF’s proposal would cost at least fifty billion dollars, financed largely by subsidies (at least 35 billion). The IMF mentions in particular an increase of four billion dollars in the initial financing of the international Covax initiative. As a reminder, this body was set up last year to prevent rich countries from monopolizing most of the doses of vaccine.

With this new boost, the agency hopes to increase immunization coverage in low- and middle-income countries from 20% to 30% by the end of the year.

To prevent the spread of new variants, the IMF is also emphasizing the need to invest in the large-scale deployment of testing and tracing initiatives.

Finally, some experts nevertheless assert that the biggest obstacles to vaccination campaigns are not financing, but political issues. Thomas Bollyky, senior researcher at the American Council on Foreign Relations, in fact evokes a reluctance of world leaders to engage in these collective actions before responding to national needs. “It will take more than money to get us out of this situation”.



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