IMF STAFF PROPOSAL TO END THE COVID-19 PANDEMIC
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Proposal overview and rationale
- The proposal develops pragmatic actions at the national and multilateral level to expeditiously defeat the pandemic.
- Benefits of the proposed measures are described as "several trillion dollars" and far outweigh the estimated cost of around $50 billion.
- The proposal includes national actions, multilateral coordination, financing, and tracking mechanisms.
Key findings on vaccine supply and pre-purchases
- "Where Does the World Stand in Terms of Pre-Purchases of Vaccines? Almost There, but Targeted Actions Needed."
- Visual/metric: SECURED VACCINES AND/OR EXPECTED VACCINE SUPPLY (DOSES, % OF TOTAL POPULATION).
Vaccination targets, coverage, and gaps
- "86 Countries Did Not Meet the 40% Target by End-2021."
- "The 70% Vaccination Target: About 61% of the World Received 2+ Doses, but About 130 Countries Missed the Target By Mid-2022."
- Metrics referenced:
- FULLY VACCINATED COVERAGE AT END-2021 (% OF TOTAL POPULATION)
- SHARE OF PEOPLE VACCINATED (2 OR MORE DOSES OF THE COVID-19 VACCINE, % of TOTAL POPULATION)
COVAX deliveries and distributional challenges
- Despite COVAX offering vaccines to AMC countries, deliveries remain unequal in part due to in-country delivery challenges.
- Cross-Country Distribution of COVAX AMC Deliveries:
- Source: IMF staff calculations based on UNICEF and COVAX.
- The list includes 88 AMC91 countries who have been allocated doses from COVAX.
- Two countries are not vaccinating, and the Marshall Islands is covered through other mechanisms.
- Owing to its size, India has a reduced access as per the December 2020 Board decision.
- A course equals one dose of J&J or two doses of all other vaccines for comparability.
- The AMC equal delivery calculation represents the coverage the AMC countries would have received if the total AMC doses were delivered equally across the countries (that is total courses delivered divided by population of the AMC countries represented here).
Financing needs and gaps
- "Where Does the World Stand in Terms of Closing the Financing Gaps?"
- Funding Needs by Pillar and Major Outcome Category (in USD billion).
Risk environment and epidemiological status
- "COVID-19 cases are surging in various parts of the world due to Omicron."
- Metric referenced: Ratio of Current Cases to 2020 Peak.
Framework for equitable access and long-term management
- Ensure all countries have equitable access to a comprehensive toolkit to handle all future scenarios.
- Illustrative Framework noted; "The decline in mortality risk is indicative." Source: IMF staff.
Tracking, monitoring, and action status
- Status of 7 Key Broad Actions Identified in the IMF Pandemic Proposal (as of Mid Dec. 2021).
- Ongoing monitoring tools and trackers referenced include:
- IMF-WHO COVID-19 Vaccine Tracker
- WTO-IMF COVID-19 Vaccine Trade Tracker
- COVID-19 Global Targets and Progress Tracker
- ACT-A/MLT Global COVID-19 Access Tracker
- Procurement Gap to 70% / Nudge List
- Pandemic Proposal Weekly Monitor
- Multilateral Leaders Task Force (MLT) dashboard and activities
Events, outreach, and publications
- Video: A Roadmap to End the COVID-19 Pandemic (Annual Meetings Event, Oct 18).
- Video: Pandemic Proposal (May 2021).
- A Proposal to End the COVID-19 Pandemic (June 2021) and Latest Update (September 2022).
- Joint op-ed and "A Global Strategy to Manage the Long-Term Risks of COVID-19" referenced.
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