The OECD urges rich countries to share vaccines and equalize growth. WGN Radio 720

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Paris (AP) —Major international economic oversight agencies urge developed countries to focus more on providing coronavirus vaccines to low-income countries to more evenly recover their global recovery from the pandemic. rice field.

The Paris-based Organization for Economic Co-operation and Development said Tuesday in its latest assessment of the global economic situation that the global recovery from the pandemic shock is faster than expected a year ago. The global economy has regained 3.4% of production lost in 2020, but warned that the recovery would be “uneven.”

The OECD, which monitors and advises 38 member states, has moderately downgraded its growth forecast for this year from its previous 5.8% to 5.7%. In 2022, the OECD raised its forecast from 4.4% to 4.5%.

Among the developed economies, the OECD said the U.S. economy would be 0.9 percentage points lower than expected in May this year, but still at a healthy 6%, with 19 eurozones bouncing back at full percentage points. .. More than previously thought 5.3%. China’s growth rate remained at 8.5%.

In its report, the OECD should make greater international efforts to provide low-income countries with the resources they need to vaccinate their people for the benefit of both their own countries and the world. Said.

Matthias Corman, OECD Secretary-General, said:

Developed countries are being asked by many agencies, including the World Health Organization, to share excess vaccines with poor countries that have not yet immunized their people, rather than using them to provide booster shots.

For example, last week the UK government announced that it would provide booster shots to everyone over the age of 50, health care workers, people with underlying health, and people with a weakened immune system. Recommended. Others, including the United States, are set to follow in providing booster shots to specific sections of their population.

The richer countries of the world have already promised to donate hundreds of millions of jabs to the poorer countries through the COVAX scheme.

The OECD also urged developed countries not to rush to withdraw the “extraordinary support” they provided to the economy in the early days of the pandemic. The outlook remains uncertain and employment levels in many parts of the world have not yet fully recovered. Pandemic level.

He added that current inflationary pressures on the global economy due to the resumption of the economy should begin to weaken next year.

This year’s surge in demand has led to a surge in key commodities such as oil, metals and food. Supply chain disruptions due to pandemics have increased cost pressure and transportation costs have skyrocketed.

The OECD urges rich countries to share vaccines and equalize growth. WGN Radio 720

Source link The OECD urges rich countries to share vaccines and equalize growth. WGN Radio 720

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