IMF proposes 41 billion plan to end pandemic

The IMF proposes a plan to end the pandemic with estimated funding of $50 billion and a goal of vaccinating 40% of the world's population this year.

"Our proposal sets targets, assesses financing needs and sets out pragmatic actions," said Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), at the G20 World Health Summit in Rome.

The plan aims to have at least 60% of the world's population vaccinated by the end of 2022 to enable lasting global economic recovery.

The authors of the report point out that it is now accepted that there will be no "lasting end" to the economic crisis without an end to the health crisis.

It is therefore in the interest of all countries to put an end to this crisis once and for all.

"We have been warning of a dangerous divergence in economic situations for some time now," commented the head of the institution.

"This will only get worse as the gap between rich countries, which have access to vaccines, and poor countries, which do not, widens," Georgieva said.

By the end of April, less than 2% of the African population had been vaccinated, while more than 40% of the population in the United States and more than 20% in Europe had received at least one dose of covid-19 vaccine, the IMF said.

The pandemic, which is hitting India hard in particular, could derail the global recovery.

To get the world back on the path to growth, the IMF is therefore making a number of proposals, the first of which is to fill the vaccine gaps that many developing countries are facing.

The goal is to help "bring the pandemic under meaningful control everywhere for the benefit of all," Georgieva said.

To meet the goals of vaccinating the world's population, the IMF makes a number of proposals aimed primarily at closing the vaccination gap that many developing countries face.

Covax was created to try to prevent rich countries from hoarding the bulk of the valuable doses. But so far it has proved ineffective.

The IMF proposal would cost about $50 billion in a combination of grants, domestic government resources and other financing, the IMF said.

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