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Vaccine withdrawal gaps are a major concern for the G20


Unequal distribution of vaccines is a major issue for the rich and the poor in Group 20, as leaders think about how to lay the groundwork for recovery from the epidemic, both economically and in terms of health. The Italian Minister of Economy said on Friday.

Daniele Franco told a virtual news conference after a meeting of G-20 finance ministers and central bankers that the group’s top priority was to “provide fair access” to safe vaccines.

“We will not return to normal life until the virus is eradicated in all countries,” Franco said. He added that the ministers and governors agreed on the need for a “bold, global response aimed at preventing the spread of the virus everywhere.”

He said this includes addressing the funding gap in the COVID-19 vaccine distribution, diagnosis and treatment initiative. The World Health Organization has estimated the gap at $ 22.9 billion.

Franco said the group also referred to the “fragile, unequal” nature of economic recovery, calling for stronger co-operation, co-ordination between the G-20 countries, to “put the world economy on a path of sustainable growth”.

“Maybe we should be vigilant and learn from the previous crises,” he said, adding that participants agreed that “any early withdrawal of fiscal support should be avoided.”

Responding to fears that differences in vaccine packaging, even between EU countries, Europe and the United States, could affect recovery, Franco said the focus was on clear slowdowns in developing countries, particularly in Africa, which would be difficult to overcome. ,

Ministers and governors also discussed additional tools to help address the long-term financing needs of weaker economies, particularly in Africa, which has been hit hardest by the epidemic.

Last December, Italy took over the rotating presidency of the G-20, an international forum that brought together large economies that account for more than 80% of world GDP. The ministers of economy and finance will monitor the progress of the issues in Venice in October, and a world summit is scheduled for October. Climate change և tax policy are on the agenda in July.



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