Rich nations must either help developing countries fight Covid or live in a fortress | Mohamed El-Erian

SourceThe Guardian
CountryMiddle east

Recognising that “no one is safe until everyone is safe,” the G7 recently announced additional steps to facilitate globally more “affordable and equitable access to vaccines, therapeutics and diagnostics” to combat Covid-19. But translating stated intent into effective action will require both bold political leadership at home and support for developing countries that goes well beyond financial aid. Getting it right won’t be easy, but the effort is essential if rich countries wish to avoid living in a fortress with the mentality to match.The current inequality in vaccine availability and deployment is stark. According to UN secretary general António Guterres, just 10 countries account for 75% of all Covid-19 vaccination so far.

More than 130 countries have not administered a single dose.In the face of such inequality, the G7 agreed to increase pandemic-related aid to $7.5bn (£5.3bn) and urged others, including G20 countries and multilateral organisations, to enhance their support for developing countries, be it through the Covax facility more...