IMF pitches $50B plan to end coronavirus pandemic

The IMF said the world could end the COVID-19 pandemic by vaccinating 40 percent of its population by the end of the year and 60 percent in 2022.

The International Monetary Fund (IMF) on Friday unveiled a $50bn proposal to end the COVID-19 pandemic by vaccinating at least 40 percent of the population in all countries by the end of 2021 and at least 60 percent by the first half of 2022. Doing so, IMF officials say, would inject the equivalent of $9 trillion into the global economy by 2025 due to a faster resumption of economic activity, with rich countries potentially benefitting the most. The crisis has killed more than 3.5 million people across the world, and projections point to highly unequal health prospects well into 2022, which poses “severe risks for the world”, the IMF said.