COVID-19 has disrupted life all over the world. It has brought misery to many, people have lost their jobs, and corporate life has come to a halt. Not to forget that it has claimed the lives of 4,358,523 people. So, the time has come for the world leaders to come together to address the situation that has gone out of hand. They need to prepare steps to put an end to the pandemic once and for all.
IMF’s $50 Billion Proposal to End Covid-19 Pandemic
In May, the IMF (International Monetary Fund) announced a $50 billion proposal to stop the Covid-19 pandemic. The strategy calls for upfront funding, vaccine donations, and measures to ensure open cross-border flows of raw materials and completed vaccines. It also involves an expenditure of $8 billion to diversify and expand vaccine production capacity around the world.
The plan involves immunizing at least 40% of the population in all nations by the end of 2021. And by the first half of 2022, at least 60% of the world’s population should be vaccinated.
A quick resumption of Economic Activity
According to IMF officials, if the proposal is enforced, then it would infuse $9 trillion into the global economy by 2025. This would be the result of a faster restart of economic activity, with wealthier countries gaining the most.
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What Does the Director Kristalina Georgieva Have to Say?
At a health forum convened by the European Commission and the Group of 20 major economies, IMF Managing Director Kristalina Georgieva provided a statement. She said it made sense for affluent economies to enhance donations to secure a speedier conclusion to the pandemic.
She also added that advanced economies would undoubtedly enjoy the biggest return on public investment in modern history. They will be capturing 40% of GDP growth and nearly $1 trillion in increased tax income.
The Proposal is Already Underway
The proposal is being prepared by IMF chief economist Gita Gopinath and staff economist Ruchir Agarwal. It relies on previous work by the Access to Covid-19 Tools (ACT) Accelerator, the United Nations, the World Health Organization, and other organizations.
The plan’s implementation would cost $50 billion, with $35 billion coming from grants from wealthy countries, private contributors, and multilateral development banks. The remaining $15 billion will be donated by national governments using low- or no-interest loans from international development banks in the UK.
Of Course, Everyone Has to Do Their Bit
The responsibility to put an end to the COVID pandemic does not simply lie on the shoulders of the world leaders. The common people have to perform their duties as well.
Vaccination is Must
One must take the vaccine as and when available, abiding by the protocols stated by the UK government and the WHO. Although it might not be a permanent cure for the pandemic, it helps in providing resistance to the SARS-CoV-2 virus and its mutations. Even if you take the vaccines, do not forget to sanitize your hands, or wear masks. Now, some nations are allowing you to walk or commute without wearing masks if you are fully vaccinated.
Follow Lockdown Protocols
If a lockdown has been issued, then you have to abide by the rules and regulations. You can buy your groceries or medicines during the relaxation time. You have to avoid or organize social gatherings, events, or any crowded places. Stay indoors to break the chain, and most importantly, to keep the elders and the children safe. The hospitals are overburdened, so staying safe goes a long way in helping the ailing patients get a bed.
Pay Close Attention to Personal Hygiene
You must not neglect personal hygiene at any cost. If you are outside traveling or at the workplace, sanitize your hands frequently. When you return home, wash your hands with soap or take a bath. If you have arrived from any state or country, it is your duty to keep yourself quarantined. And if you fall sick, then you have to let the doctors know about it, rather than hiding it. Though the pandemic has changed lifestyle and hygiene habits, these are some of the steps that ought to be taken in order to end the pandemic. Meanwhile, if you struggle to write an essay, do not hesitate in availing yourself of the services of a professional essay writer.