The International Monetary Fund (IMF) has calculated that in order to win the fight against the pandemic, the world needs $50 billion.
This hefty sum of money will be enough to vaccinate the global population by the end of 2021- early 2022. According to the IMF, the implementation of this plan will lead to an injection of $9 trillion into the world economy. However, it can happen no earlier than 2025. So far, some 3.5 million people have died from COVID-19 worldwide. In Africa, only 2% of the population have received their vaccine shots. This is a really small percentage compared to Europe (20%) and the United States (40%).
Earlier, the IMF spokespeople warned of a possible "vaccine nationalism," a shortage of vaccines for poor countries. Director-General Tedros Ghebreyesus suggested that the global economy could lose $9.2 trillion because of the unequal international distribution of COVID-19 vaccines. At the same time, developed countries could account for 50% of those losses.
The IMF has estimated that rich economies that recover faster from the pandemic will benefit the most from the situation. Meanwhile, billions of people across the world will not be vaccinated in the near future due to a shortage of drugs caused by developed countries who purchase proven vaccines in enormous amounts. Thus, the wealthiest countries accounting for 14% of the world's population have purchased 53% of promising vaccines.
Canada has secured more vaccine doses per capita than any other country. According to preliminary estimates, this amount will be enough to vaccinate every Canadian five times.
