ABSTRACT

Global Strategy to Manage the Long-Term Risks of COVID-19   [open pdf - 1MB]

From the Abstract: "The pandemic is not over, and the health and economic losses continue to grow. It is now evident that COVID-19 [coronavirus disease 2019] will be with us for the long term, and there are very different scenarios for how it could evolve, from a mild endemic scenario to a dangerous variant scenario. This realization calls for a new strategy that manages both the uncertainty and the long-term risks of COVID-19. There are four key policy implications of such as strategy. First, we need to achieve equitable access beyond vaccines to encompass a comprehensive toolkit. Second, we must monitor the evolving virus and dynamically upgrade the toolkit. Third, we must transition from the acute response to a sustainable strategy toward COVID-19, balanced and integrated with other health and social priorities. Fourth, we need a unified risk-mitigation approach to future infectious disease threats beyond COVID-19. Infectious diseases with pandemic potential are a threat to global economic and health security. The international community should recognize that its pandemic financing addresses a systemic risk to the global economy, not just the development need of a particular country. Accordingly, it should allocate additional funding to fight pandemics and strengthen health systems both domestically and overseas. This will require about $15 billion in grants this year and $10 billion annually after that."

Report Number:
IMF Working Paper WP/22/68; International Monetary Fund Working Paper WP/22/68
Author:
Publisher:
Date:
2022-04
Series:
Copyright:
2022 International Monetary Fund. Posted here with permission. Documents are for personal use only and not for commercial profit.
Retrieved From:
International Monetary Fund: https://www.imf.org/
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations