Covid-19: WTO calls for "sustainable path" to economic recovery

The director-general of the World Trade Organization (WTO) said Monday that countries in Africa, Latin America and the Middle East need to be put "on a sustainable path" to economic recovery after the covid-19 pandemic, stressing the importance of vaccines.

"If you look at the recovery globally, North America, Europe and Asia are recovering much faster than Africa, Latin America and the Middle East," Ngozi Okonjo-Iweala pointed out at a virtual seminar organized by the United Nations Economic Commission for Africa (ECA).

"We need to put ourselves on a sustainable path," reinforced the Nigerian economist.

According to the WTO director general, who referred to what has been observed by the organization and the International Monetary Fund (IMF), the difference in access to vaccines has led to "parts of the world that have access recovering much more quickly because their economies can open up more quickly."

Similarly, Okonjo-Iweala pointed out that some countries have established stimulus packages for their fundamental economies, with "many of them guaranteeing up to 25% of their GDP [gross domestic product]."

"We need to find a way to ensure adequate access to vaccines in our countries," the director-general stressed.

Linda Thomas-Greenfield, US Ambassador to the United Nations, reiterated that "Africa is a priority for [President Joe] Biden's administration" and that Washington is "committed to African countries as partners in achieving common interests" such as "security, health, freedom, democracy and prosperity."

"The United States of America is committed to bringing the same urgency to international vaccination efforts as we have demonstrated at home," he stressed.

The American diplomat also pointed out that it is necessary to invest in young people in Africa, a continent that has an average age of 19.

"If we don't focus on young people who have the entrepreneurial spirit (...), we're going to end up losing the continent, so we need to amplify the entrepreneurial spirit and the dynamism of women and young people in Africa to help create jobs and opportunities that we know will allow them to invest in their countries and their futures," Thomas-Greenfield argued.

The US ambassador and the ECA's executive secretary addressed the importance of the African diaspora, with the diplomat considering that it can be fundamental to the economy of the countries of origin.

According to the most recent data from the African Union's Centers for Disease Control and Prevention, the continent has counted more than 6.47 million cases since the pandemic began, including more than 164,000 deaths.

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