Ensuring universal availability of vaccines, ending pandemic should be key priority for global community: FM

Amid the fresh COVID-19 wave, Finance Minister Nirmala Sitharaman on Thursday said ensuring universal availability of COVID-19 vaccines and ending the pandemic should be the key priority for the global community. She endorsed the view of the IMF that the key priority remains to end the pandemic and the universal availability of vaccines and medical solutions needs to be ensured.

Amid the fresh COVID-19 wave, Finance Minister Nirmala Sitharaman on Thursday said ensuring universal availability of COVID-19 vaccines and ending the pandemic should be the key priority for the global community. She was speaking at the Plenary Meeting of the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund (IMF) at the virtual Spring Meetings 2021. Sitharaman also said suggestion of Global Policy Agenda (GPA) to hasten the transition to a low-carbon economy for promoting growth that benefits all needs to be viewed in the context of its implications for the emerging and low-income economies. ''The burden of economic transformation to a low carbon economy would disproportionately be higher for these countries, and positive benefits may not accrue in the short run. ''The focus needs to remain on the agreed principles of equity and differentiated responsibility of climate action,'' the finance ministry said in a statement quoting Sitharaman. She endorsed the view of the IMF that the key priority remains to end the pandemic and the universal availability of vaccines and medical solutions needs to be ensured. She informed the meeting attended by Governors/ Alternate Governors representing 190 member countries of the IMF that the world's largest vaccination drive is underway in India with 83.1 million doses administered as on April 6, 2021. India has supplied 65 million made-in-India COVID-19 vaccine doses to 80 countries, including 10 million vaccine doses as grant, she added. The members of the IMFC updated the committee on the actions and measures taken by member countries to combat the COVID-19 pandemic and facilitate economic recovery. The IMFC meets twice a year, once during the Fund-Bank Spring Meetings in April, and again during the Annual Meetings in October. The Committee discusses matters of common concern affecting the global economy and advises the IMF on the direction of its work. Due to ongoing COVID-19 pandemic, the Spring Meetings took place through video-conference, like the previous year.

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