Delay in vaccine distribution poses major risk to global economy: IMF Chief Economist

By Sayujya S, Desk Reporter
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Gita Gopinath, Chief Economist at IMF

The chief economist of the International Monetary Fund (IMF), Gita Gopinath, opined that delays in COVID-19 vaccinations pose the highest danger in dealing with the worldwide economic system.

She stressed that getting individuals in poor international locations inoculated needs to be of utmost importance. “The truth that there may be this massive hole in entry to vaccinations is an enormous downside,” Ms. Gopinath mentioned throughout a digital convention organized by the Peterson Institute for Worldwide Economics. She said that attaining widespread vaccinations needs to be “absolutely the number-one precedence.”


Last week, IMF unveiled an up to date world financial outlook that predicted the worldwide economic system would increase 6 percent this 12 months and 4.4 percent in 2022, each greater than its earlier estimates.

Nonetheless, it warned uncertainty remained over its projections, and development may speed up if the vaccination rollout strikes sooner than anticipated or slower in the event that they lag behind.

The IMF confirmed that investments in vaccines are integral as it allows the economies capable of reopening. Meanwhile, they pointed out that vaccine distribution to poor international locations was “deeply iniquitous” as wealthy nations sweep up many of the available stock.


The vaccination campaigns have accelerated globally, however it is dealing with obstacles. Recently, the US, South Africa and European Union (EU) temporarily stopped the rollout of the Johnson & Johnson (J&J) COVID-19 vaccine, after reports of rare blood clotting. Six cases were detected in more than 6.8 million doses of the vaccine, the US Food and Drug Administration (FDA) said.

Earlier, numerous countries paused their use of the Oxford-AstraZeneca shot following reports it could be connected to blood clots, despite no clear evidence.

Related: GCC to drive post-COVID economic recovery in Middle East region; IMF