WORLD RISKS UNEVEN RECOVERY ON VACCINE SHORTAGES: IMF CHIEF

Rich countries are poised to recover from the global pandemic much faster than poor ones based on better vaccine access — and policy-makers need to act to avoid deepening inequality between nations, the head of the International Monetary Fund said. Governments and multilateral organizations must help developing nations accompany advanced ones in transitioning to a more inclusive, digitalized, green economy, IMF Managing director Kristalina Georgieva said Friday. Failing to address unequal vaccine access could leave many countries in the world with social unrest or a decade of lost growth and advancement, Georgieva said. About half of developing nations will see their per-capita income levels relative to advanced economies fall as a result of the pandemic, marking a reversal from recent decades, she said.