When richer countries the Secure the majority of the corona vaccines and developing countries are largely left with nothing for the time being, can that World economy cost trillions in losses. The International Chamber of Commerce (ICC) reported on Monday. She had commissioned a study on this. If vaccines are not distributed fairly around the world, this could reduce global economic output by up to 9.2 trillion dollars (7.6 trillion euros) this year alone, it says. Half of the failure affects industrialized countries.
“The study shows the possible consequences of one Vaccine nationalismwhich are significantly larger than the best previous estimates, ”said the ICC. It shows that investments in the ACT accelerator are paying off. The ACT Accelerator is the World Health Organization (WHO) program for the development, production and fair distribution of Covid-19 tests, drugs and vaccines. If richer countries paid the $ 27.2 billion missing from the program, the benefits would be 166 times the investment.
Even if the richer countries managed to get their own populations optimally vaccinated by the end of June, they could get up to $ 4.5 trillion of economic output will be lost if vaccinations in poorer countries remain at their current low levelsaccording to the study. “Industrialized countries have a clear incentive to coordinate and promote the distribution of vaccines globally,” says the study. In this way, they could avoid supply and demand shocks in other countries leading to economic losses at home.