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IMF's Georgieva: Vaccine policy is economic policy

International Monetary Fund (IMF) Managing Director Kristalina Georgieva (pictured) stressed the importance of global inoculation efforts against COVID-19, asserting that, currently, "Vaccine policy is economic policy."

NEWS IN ENGLISH 09.04.2021, 21:07
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IMF's Georgieva: Vaccine policy is economic policy
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The IMF calculated that the global output can increase by over $9 trillion by 2025 if "everybody is vaccinated faster," she said. "I can't think of a better value for money, this and next year, than investing in accelerated vaccinations."

Georgieva added that governments should continue providing monetary and fiscal support until there has been a "durable exit from the crisis," warning that withdrawing aid too soon would likely cut the economic recovery short.

Georgieva on Thursday urged policymakers to "act fast" towards creating an inclusive global economy. 

Georgieva explained that the initiative should go through three complementary processes - ramping up production and distribution of COVID-19 vaccines, especially funding the COVAX facility, providing targeted fiscal and policy measures, and increasing public investments in green projects and digitalization.

The IMF currently doesn't see a systemic debt crisis, Georgieva concluded, saying that the fund intends to keep it that way.

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