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IMF, World Bank urge G7 to release surplus vaccines

The heads of the International Monetary Fund and the World Bank on Thursday urged Group of Seven advanced economies to distribute excess covid-19 vaccine to developing countries as soon as possible, and called on manufacturers to increase production.

In a joint statement to the G7, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass also called on governments, pharmaceutical companies and groups involved in vaccine procurement to increase transparency on contracts, financing and deliveries.

Distributing vaccines more widely is both an urgent economic necessity and a moral imperative“, they said.” The coronavirus pandemic will not end until everyone has access to vaccines, including people in developing countries. “

Malpass and Georgieva to meet face-to-face with finance officials from G7 countries on Friday and Saturday – Great Britain, United States, Canada, Germany, Italy, France and Japan – with the COVID-19 pandemic which will be a central subject.

The new coronavirus has killed more than 3.7 million people around the world, according to a Reuters tally.

While about half of the population of the United States has received at least one dose of the vaccine, percentage in developing countries is still in single digitssaid Mamta Murthi, vice president for human development at the World Bank.

The World Bank, the World Health Organization and the World Trade Organization this week approved a IMF’s $ 50 billion proposal to end the pandemic by expanding access to vaccines.

“The World Bank Group and the International Monetary Fund are calling on countries that anticipate a vaccine surplus in the coming months to release their excess doses and options as soon as possible, in a transparent manner, to developing countries with adequate distribution plans in place, ”Georgieva and Malpass said in their letter to G7 officials.

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