IMF Managing Director: "COVID-19 Vaccine Policy Will Be the Most Important Economic Policy This Year"

▲Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF) [Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), stated on the 16th (local time) that "COVID-19 vaccine policy will be the most important economic policy this year."

According to CNBC, at an event hosted by CNBC on the same day, Georgieva said, "COVID-19 vaccine policy could be the most important economic policy not only this year but also next year," adding, "It will be more important than monetary or financial policies."

She emphasized, "For the world to maintain a high level of growth, vaccination must be carried out for everyone, but there are disparities in vaccine distribution," and stressed, "This must be overcome."

The IMF projected in April that, based on a high vaccination rate, the global economy would grow by 6.0% in terms of GDP this year and by 4.4% next year.

The IMF holds the position that at least 40% of the global population needs to be vaccinated this year, and 60% by next year.

Recalling the IMF's announcement that investing $50 billion to expand vaccination could yield an economic effect of $9 trillion, Georgieva emphasized, "Investment to expand vaccination is a once-in-a-lifetime investment that can deliver the greatest results."

She also added that vaccination certificates will be a very useful tool for economic revitalization and that there is a need to utilize vaccination certificates more broadly.