Ending Covid-19 pandemic is possible at a cost of $50 billion: IMF 

International Monetary Fund building

International Monetary Fund building

On Friday, a proposal of $50 billion was disclosed by the International Monetary Fund (IMF) for the end of this pandemic. End of the Covid-19 pandemic is possible by vaccinating at least 40% of the world's population by the end of 2021 and at least 60% by the first half of 2022.

The plan is to donate vaccines, movement of raw materials and developed vaccines free of cost from country to country and $8 billion is needed to invest to increase the production of vaccines across the world. By doing this, the IMF said, $9 trillion have been added to the global economy by 2025.

Kristalina Georgieva, IMF Managing Director, told a health summit that rich economies should boost their donations to end pandemic as fast as possible. It was attended by the Group of 20 major economies and European Commission .

Kristalina said that "Advanced economies - asked to contribute most to this effort - would likely see the highest return on public investment in modern history, capturing 40% of the GDP gains and roughly $1 trillion in additional tax revenues."

 

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