IMF Will Provide Vaccination Aid Package

IMF will provide vaccination and aid package for immunization. The IMF (International Monetary Fund) will offer a $ 50 billion vaccine package.

The International Monetary Fund (IMF) has submitted a $ 50 billion Covid-19 aid package offer to vaccinate 40 percent of the world's population by the end of 2021 and 60 percent by the end of 2022. Thus, the IMF will have given 9 trillion dollars to the world economy by 2025. Stating that the coronavirus pandemic has taken the lives of 3.5 million people in the world so far, the IMF stated that the unequal health outlook creates a serious risk for the world. Speaking at the health summit hosted by the European Commission and G20 countries, IMF Director Kristalina Georgieva noted that rich countries need to increase their aid grants to end the epidemic as soon as possible. Georgieva said, "Developed countries that are asked to give the most support to this package will provide the highest return on public investment in modern history. This corresponds to 40 percent of their GDP and an additional tax revenue of $ 1 trillion." The package, which is expected to cost around $ 50 billion, will comprise $ 35 billion in grants from rich countries, and $ 15 million in low or zero interest loans from national governments. While the G20 countries currently agree to provide a $ 22 billion grant, an additional $ 13 billion grant is needed. According to IMF estimates, 1 billion doses of vaccine assistance will be available this year, and an additional 1 billion doses will be required in 2022.