The global economy’s recovery risks being dampened or even derailed by the lag in coronavirus vaccinations for poorer nations relative to their wealthier peers. Bloomberg’s Vaccine Tracker shows 4.54 million doses were given on average across the world each day over the last week, but it’s far from an even spread. The US and UK make up about 40 per cent of the 119.8 million doses administered globally. Developing and emerging markets are, by and large, doing far less well. In Africa, only Egypt, Morocco, Seychelles and Guinea are recorded as having given any of the vaccines at all. Much of Central Asia and Central America has yet to begin vaccinating, or is moving slowly.
The $9.2 Trillion Price Tag for Failing to Vaccinate World
Bloomberg 2/5/2021 Enda Curran and Michelle Jamrisko
(Bloomberg) The global economy’s recovery risks being dampened or even derailed by the lag in coronavirus vaccinations for poorer nations relative to their wealthier peers.
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Bloomberg’s Vaccine Tracker shows 4.54 million doses were given on average across the world each day over the last week, but it’s far from an even spread. The U.S. and U.K. make up about 40% of the 119.8 million doses administered globally.
Developing and emerging markets are, by and large, doing far less well. In Africa, only Egypt, Morocco, Seychelles and Guinea are recorded as having given any of the vaccines at all. Much of Central Asia and Central America has yet to begin vaccinating, or is moving slowly.
1MDB scandal casts pall over Indonesia wealth fund ambitions freemalaysiatoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freemalaysiatoday.com Daily Mail and Mail on Sunday newspapers.
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Indonesia will need to step out of the shadows of neighboring Malaysia’s 1MDB scandal to convince investors that its new wealth fund won’t fall prey to corruption.
Nusantara Investment Authority will take lessons from other sovereign wealth funds and adopt a framework based on independence, transparency and accountability, said Isa Rachmatarwata, the finance ministry’s director general of state assets. It needs to assure potential investors that governance protocols are airtight when it starts operations in the second half of 2021, as the fallout from the 1MDB scandal has heightened scrutiny on emerging-market wealth funds.
“The region has had a bad name after 1MDB and people will think of that how a similarly well-intended fund can go so wrong,” said Bank of America Securities economist Mohamed Faiz Nagutha. While Indonesia’s fund has attracted $6 billion of pledges from the Japan Bank for International Cooperation and the U.S. International Development Finance Corp.