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

SourceThe Guardian
CountryMiddle east

The G7 needs to keep giving financial aid and other support if it wants to avoid ongoing disruptionCoronavirus – latest updatesSee all our coronavirus coverageRecognising 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. Related: Easing lockdown will allow Covid to spread. Here's how to mitigate the risks | Sam Bowman Mohamed El-Erian is chief economic adviser at Allianz. He served as chair of Barack Obama’s Global Development Council and is a former deputy director at the IMF. Continue reading... more...