The International Monetary Fund wants $50 billion to be spent on ensuring a faster rollout of coronavirus vaccines, saying it could ultimately generate returns of $9 trillion for the global economy.
The IMF called for at least 40% of the global population to be vaccinated by the end of the year, and at least 60% by June 2022.
To achieve this, the Fund said there needs to be a global effort to invest another $50 billion to bolster the global vaccination program. This additional amount would be used to increase the COVAX vaccine coverage to 30% of the globe, procuring additional tests, and expanding vaccine production capacity. COVAX is an international partnership to ensure an equitable distribution of doses.
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