Mahmoud Mohieldin, the executive director at the International Monetary Fund and the UN Secretary-General's envoy for financing development, revealed that COVID-19 vaccines will not reach poorer countries before 2024, urging wealthy nations to assist them.
In an interview reported by the Egyptian newspaper "Al-Shorouk," Mohieldin, who previously served as Minister of Investment under the late Egyptian President Hosni Mubarak, confirmed that several advanced countries have secured vaccine supplies several times their population size, while other nations have not yet secured reasonable amounts to ensure safety. He stated that advanced countries would be able to meet their vaccine needs by the end of this year, while developing countries and emerging markets might achieve this throughout the next year. He noted that the poorest nations may only obtain the vaccine through significant international assistance, highlighting that this won't happen before 2024.
Mohieldin urged developed nations to provide vaccines to poorer countries, even while they work to secure their own vaccine needs. He reported a frightening rise in poverty levels globally, reaching unprecedented levels since 1998, estimating that over the past two decades, this trend has led to an increase of about 95 to 115 million individuals, according to ongoing World Bank estimates.
He suggested that reallocating spending priorities in Arab countries requires support for those affected by COVID-19, which was seen last year through some exceptional measures. He indicated that these measures could continue this year, particularly in supporting families reliant on the informal economy for their livelihoods and lacking sufficient safety nets.
Mohieldin emphasized that providing the COVID-19 vaccine has become the primary concern for both poor and rich countries, asserting that any positive economic impact must be linked to controlling the pandemic through vaccine distribution and adherence to current social distancing guidelines.
