What Macri borrowed could end the pandemic for the IMF

The figure is more striking compared to the u $ s57,100 than in 2018 Argentine Finance Minister Nicolás Dujovne and Central Bank President Federico Sturzenegger announced that They had asked the IMF through the stand-by loan to reduce the budget deficit and inflation under the government of Mauricio Macri.

The IMF’s plan to end the pandemic

Gopinath and Agarwal, authors of the plan, pointed out that it is now accepted that there will be no “lasting end” to the economic crisis without an end to the health crisis. It is therefore in the interest of every country to put an end to this crisis for good.

“For a long time, we have warned of a dangerous divergence in the economic situation”Stressed Georgieva. “It will only get worse as the gap widens between rich countries that have access to vaccines and poor countries that do not.

End of April, less than 2% of the African population had been vaccinated, while more than 40% of the population in the United States and more than 20% in Europe they had received at least one dose of the COVID-19 vaccine, according to the IMF.

The pandemic, which is hitting India particularly hard, could derail the global economic recovery. To put the world back on the path to growth, the IMF has made a series of proposals, the first of which is to help developing countries improve their immunization campaigns.

The idea is “significantly control the pandemic everywhere for the benefit of all”Georgieva said. To achieve the vaccination goals of the world population, IMF urges need for additional subsidies to global Covax vaccine delivery mechanism, through donations of excess doses and guarantees of free cross-border movement of raw materials and vaccines.

The Covax mechanism, of which the World Health Organization (WHO) is a part, was created in an attempt to prevent wealthy countries from stockpiling most doses of anti-ovid vaccines, but so far it has been ineffective.

The IMF admits that rich countries are called upon to contribute the most to the $ 50 billion plan. But according to Georgieva, it is also the rich countries that “would probably see the best return on public investment in modern history, capturing 40% of the increases in GDP and about a trillion dollars in additional tax revenues”.