According to OECD chief economist Lawrence Boone, the emergence of a new coronavirus variant has already added to uncertainty over the global economic outlook and highlights the shortcomings of vaccination.
While the Paris-based organization did not directly account for Omicron in its new outlook published on Wednesday, it emphasized continued pandemic risks and urged governments to address low vaccination rates in some regions to “breed to lethal strains”. base” could not be made.
“We are concerned that the Omicron strain is adding to the high levels of uncertainty and risks that could threaten the recovery,” Boone said in a presentation to the OECD report in Paris. Getting more people vaccinated “remains the most important priority to end.” Also to deal with the pandemic and the imbalances that are hindering recovery.”
Boone said it would cost the world $50 billion to vaccinate — an amount that’s more than the $10 trillion group of 20 countries spent on mitigating the economic impact of COVID-19.
On top of strict virus restrictions, including renewed lockdowns in some parts, OECD members are grappling with rising inflation and hold-ups in global supply chains that are starving components factories.
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