Current Pace Of COVID-19 Vaccinations Will Not Halt Pandemic By End Of 2022 - IMF Chief

WASHINGTON (UrduPoint News / Sputnik - 21st July, 2021) The current pace of the coronavirus vaccinations worldwide will not stop the pandemic by the end of 2022, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Wednesday.

"It is so clear that we are on the pace we are today not going to end the pandemic by the end of next year," Georgieva said during virtual discussion at the Peterson Institute for International Economics.

Georgieva said the world may face new variants of the novel coronavirus and urged speeding up the pace of vaccinations.

The IMF managing Director pointed out that different countries may recover faster than others depending on economic conditions they face.

"As we are now coming, hopefully, to the recovery from the pandemic, countries are going to be faced with high deficits and high debts," Georgieva said.

"It will be paramount to secure the revenues that allow the support of the recovery and media-term fiscal sustainability."

Georgieva also welcomed the international agreement on corporate tax and the progress in the discussions on implementing a digital tax.

The finance ministers from the G20 group of industrialized nations endorsed the agreement reached their in-person meeting that will set a global minimum tax of at least 15 percent to prevent multinational corporations from shifting their profits to tax havens. A framework deal is expected by the G20 leaders' summit in October.