Prognosis
IMF Backs $50 Billion Plan to Help World Escape Covid Crisis
- Proposal aims to vaccinate 40% of global population this year
- Planet is facing ‘dangerous’ divergence of economic fortunes
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The International Monetary Fund called for a $50 billion spending plan to protect vast swaths of the world against Covid-19 and narrow a gap in access to life-saving vaccines that’s threatening the global economic recovery from the pandemic.
That investment would fund an ambitious effort to immunize at least 40% of the global population by the end of this year and 60% or more by the first half of 2022, the IMF said on Friday. While saving lives, a faster rebound would also deliver a potential $9 trillion economic boost by 2025, the fund estimates.