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Wednesday, December 8, 2021

A UN group blames unequal access to vaccines for the widening global economic divide.

Unequal access to coronavirus vaccines in developing countries is exacerbating a “large gap” between rich and poor countries and slowing economic recovery from the pandemic, the UN, which monitors labor market developments, said Wednesday.

Vaccination campaigns have proven to be critical in helping to restore working hours and economic productivity. However, according to Guy Ryder, director of the International Labor Organization, uneven access to vaccines has led to a two-speed recovery in rich and poor countries.

“We are building worse, at least when viewed from the perspective of the developing world,” Mr. Ryder told reporters in Geneva, adding that he will convey this message to the leaders of the G20 summit meeting in Rome. this weekend.

Globally, around 76 percent of gun shots were in high- and upper-middle-income countries, according to the University of Oxford’s Our World in Data Project. Only 0.5 percent of doses were administered in low-income countries.

In a report released Wednesday, the ILO calculated that for every 14 workers who were fully vaccinated in the second quarter of the year, one permanent job was added to the global labor market. By early October, 34.5 percent of the world’s population was fully vaccinated, he said, but rates ranged from 59.8 percent in high-income countries to 1.8 percent in low-income countries.

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As a result, the labor market recovery has stalled in 2021, and the number of hours worked this year is now expected to be much lower than previously estimated, the ILO said.

Fiscal stimulus packages have provided another key economic recovery aid. But 86 percent of the incentives available through these initiatives were concentrated in high-income countries, the organization said.

The ILO said that with a more equitable distribution of vaccines, it would take low-income countries a little over three months to catch up with the pace of work-time recovery in rich countries.

The organization’s findings echo the alarm repeatedly voiced by Dr. Tedros Adhan Ghebreyesus, director general of the World Health Organization, who called the uneven supply of Covid-19 vaccines “a catastrophic moral failure” and set a goal to vaccinate 40 percent. each country by the end of the year.

World Nation News Deskhttps://www.worldnationnews.com
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