The International Monetary Fund (IMF) has unveiled a plan to end the current covid-19 pandemic. If this succeeds, it will mean that by 2025, the equivalent of nine trillion dollars will reach the global economy. According to IMF calculations, this is the result of a faster resumption of economic activity, from which rich countries will potentially benefit the most.
The
coronavirus crisis has already claimed more than 3.5 million lives worldwide, and current forecasts suggest that the situation will continue to improve significantly unevenly next year. This poses a significant risk to the world, the monetary fund said.
IMF Executive Director Kristalina Georgieva told health summit participants that it made sense for rich countries to increase their contributions to help end the pandemic as soon as possible. The summit was organized by the European Commission and a group of economically important
G20 countries.
"Developed countries - which have been asked to contribute the most to this effort - are likely to have the highest return on public sector investment in modern history. They will account for 40 percent of the growth of gross domestic product and about one trillion dollars from additional tax revenues, "said Georgieva.
The proposal, prepared by IMF chief economist Gita Gopinath and fund economist Ruchir Agarwal, follows the efforts of some other organizations and groups, including Access to COVID-19 Tools Accelerator, the United Nations and the World Health Organization, Reuters reported.
The implementation of the plan will cost about 50 billion dollars, of which about 35 billion will be paid from grants from rich countries, private and multilateral donors. The remaining $ 15 billion will be provided by national governments, which will use low- or zero-interest funding available through multilateral development banks.