Connect with us

World

IMF chief says faster vaccinations key to coronavirus pandemic recovery

IMF managing director Kristalina Georgieva Thursday said accelerating the pace of vaccinations worldwide would be key not just to containing the coronavirus pandemic, but also to resolving the speed bumps besetting the global economic recovery.

Published

on

IMF chief says faster vaccinations key to coronavirus pandemic recovery
GNN Media: Representational Photo

Finance officials gathered for the annual meeting of the Washington-based crisis lender have flagged concerns about supply chain bottlenecks that are pushing prices higher.

Those disruptions stem from the unprecedented situation created by the pandemic and the sharp rebound in demand as economies reopen, as well as struggles to hire workers amid renewed infections from the Delta variant of the coronavirus.

But Georgieva said the "more fundamental problem" is the growing divergence between "countries that are pulling forward more strongly, and those that are falling behind," largely due to the drastically lower vaccination rates in lower-income nations.

"There was a very clear message coming out of this meeting that vaccinating the world is critical," she told reporters.

While advanced countries are starting to provide booster shots, about 96 percent of the population of low-income countries are unvaccinated.

International Monetary Fund members "called for a strong international cooperation and immediate action to achieve universal vaccination," said Sweden Finance Minister Magdalena Andersson, who chaired the IMF's steering committee.

Georgieva repeated the Fund's view that inflation pressures are mostly transitory, but the committee stressed that central banks will be watching prices closely and will take action if "concrete" risks materialize.

The committee, in its concluding statement, recognized the risks to the recovery and highlighted the need for "immediate action" on vaccinations and to address the crisis that is exacerbating poverty.

The membership also repeated the pledge to "extend financial assistance to countries in need."

That includes shifting funds from the newly-issued IMF reserves -- $650 billion in special drawing rights -- to countries most in need. Georgieva said her $100 billion goal is "very achievable."

SOURCE: AFP

Faisal Ali Ghumman

Faisal Ali Ghumman is a senior editor at GNN, known for writing top quality content which garner very high readerships and has been covering every field of journalism, including politics, media, sports and scholarly articles. Faisal Ali Ghumman is nothing less than a Veteran Editor and has been writing for GNN for the past 4 months.

Entertainment

‘First in world’; BTS’ Jimin gets customized helicopter birthday banner for exclusive routes in US, Australia

On his 26th birthday, the artist became the first person in the world to receive a customized helicopter birthday banner for exclusive routes in the United States (US) and Australia.

Profile Avatar

Published

on

‘First in world’; BTS’ Jimin gets customized helicopter birthday banner for exclusive routes in US, Australia

Seoul: Renowned K-POP idol and member of boyband BTS, Park Jimin continues to set records as the first person in the world with different highly innovative and grand-scale birthday support projects. 

On his 26th birthday, the artist became the first person in the world to receive a customized helicopter birthday banner for exclusive routes in the United States (US) and Australia.

The exclusive birthday-themed banner will be up to 35 meters long for both the US and Australia routes, which is a giant size to ensure visibility. Both flights will have a specialized light aerobatic aircraft utilized for the birthday project.

In US, the banner will pass through famous sites including the Statue of Liberty and the George Washington Bridge—a strategy that will foster drawing attention to the project. 

The US flight will be for 3 hours, which is also a long period to ensure enough buzz for the project—ensuring a grand-scale promotion for Jimin in the most sophisticated way imaginable.

For the Australian route, the flight will be on Gold Coast, and the duration will be two hours.

The Australian route will include a highlighted tourist resort named after the 42 km of golden sandy beach—adding prestige to the project.

In addition to incredible birthday support projects, fans known as ARMY are also showing their love to the singer through various hashtags on Twitter.

To commemorate BTS Jimin's birthday today, Ukraine ARMYs have also prepared a "first-in-the-world" project that involves the ‘Serendipity’ singer being featured on the biggest LED screen in all of Europe.

Another birthday support project for BTS member Jimin that is also the first in the world is a digital ad in Kyoto, Japan. Jimin became the first foreign artist to be featured on that ad space in the country.

The advertisement will run for a week.

Moreover, ARMYs in France are celebrating BTS Jimin's birthday by lighting up the Eiffel Tower, which is a famous landmark in the city.

Continue Reading

Pakistan

34 more succumb to COVID-19 in Pakistan; 1,656 new cases emerge 

Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than the previous three COVID waves. Today, the daily positivity rate in-country is at 3.26%.

Profile Avatar

Published

on

34 more succumb to COVID-19 in Pakistan; 1,656 new cases emerge 

Islamabad: Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than the previous three COVID waves. Today, the daily positivity rate in-country is at 3.26%.

According to National Command and Operations Center (NCOC), around 1,656 cases of coronavirus were reported while 35 people succumbed to the disease in the last 24 hours, taking the total death toll to 27,785.

The total number of cases has reached 1,249,858.

As many as 1,175,489 patients have recovered from the disease with 3,444 critical cases.

Punjab   

The number of patients swelled to 432,809 in the province with 12,672 causalities.

Sindh

The number of infections has surged to 459,392 in the province, while the death toll has reached 7,425.

Khyber Pakhtunkhwa

The confirmed cases have surged to 174,490 in the province with 5,571 casualties.

Balochistan

There are 32,956 confirmed cases while 349 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 34,216 coronavirus cases in the AJK while the death toll has reached 738. On the other hand, there are 10,331 cases in GB with 184 coronavirus deaths.

Islamabad

There are 105,664 cases in the capital city while 927 people have lost their lives.

Continue Reading

Pakistan

COVID-19: Pakistan reports 1,004 cases, 28 deaths

According to National Command and Operations Center (NCOC), around 1,004 cases of coronavirus were reported while 28 people succumbed to the disease in the last 24 hours, taking the total death toll to 28,134.

Profile Avatar

Published

on

COVID-19: Pakistan reports 1,004 cases, 28 deaths

Islamabad: Amid a steady decline in Covid-19 infections, Pakistan's coronavirus positivity ratio further fell to 2.31% with 1,004 new cases.

According to National Command and Operations Center (NCOC), around 1,004 cases of coronavirus were reported while 28 people succumbed to the disease in the last 24 hours, taking the total death toll to 28,134.

Pakistan is presently experiencing the fourth wave of coronavirus which is said to be deadlier and more contagious than the previous three COVID waves.

The total number of cases has reached 1,258,959.

As many as 1,188,562 patients have recovered from the disease with 2,473 critical cases.

Punjab

The number of patients swelled to 436,197 in the province with 12,785 causalities.

Sindh

The number of infections has surged to 462,859 in the province, while the death toll has reached 7,497.

Khyber Pakhtunkhwa

The confirmed cases have surged to 175,974 in the province with 5,645 casualties.

Balochistan

There are 33,076 confirmed cases while 350 patients have died from the infection so far.

AJK and Gilgit-Baltistan

There are 34,350 coronavirus cases in the AJK while the death toll has reached 739. On the other hand, there are 10,350 cases in GB with 186 coronavirus deaths.

Islamabad

There are 106,153 cases in the capital city while 932 people have lost their lives. 

Continue Reading

Trending