Is it really worth vaccinating the entire globe for $50bn? OECD asks
Vaccinating people around the entire globe could cost a staggering $50bn, but it would be worth the effort, even if only because of the rather higher cost of not doing so, the rich world´s economic watchdog argued.
To drive home that point, the Organisation for Economic Cooperation and Development's chief economist, Laurence Boone, pointed out how G-20 countries alone had spent $10trn on support measures during the pandemic.
In remarks to Bloomberg TV, Boone reportedly said: "“When you balance things out, $10 trillion for supporting the economy going through the pandemic compared with a tiny $50 billion to bring the vaccine to the entire world population, that looks completely disproportionate."
The OECD also argued in its new forecasts that governments should address low inoculation rates in various regions of the planet in order to avoid the creation of "breeding grounds for deadlier strains".