THE pandemic of coronavirus remains the most significant risk to the global economy and contributes to rising inflation in many countries, the chief of International Monetary Fund Kristalina Georgieva.
Georgieva called for intensified efforts to increase the vaccination and to strengthen defenses against the new coronavirus, explaining that such actions – combined with the rate hike being considered or already announced by Central Banks – would help fight inflation and reduce supply chain turmoil.
“The policy for pandemic is economic policy. THE greater risk “For the performance of the world economy, Covid and the unrest it causes remain this year,” he said.
Georgieva acknowledged that inflation had turned out to be a “more significant economic and social problem” than initially expected and that economists had underestimated the impact of backward consumption and climate shocks on food prices.
Georgieva noted that in 86 countries the vaccination rate has not yet reached the target of 40% of the population. In low-income countries they are recorded vaccination rates only 5%, while the rich reach 70%. “Why is this a problem? “Because what we are doing is maintaining a field for the development of more and more variants of Covid,” he told the forum, organized by the Washington Post.
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