Unequal Vaccination Rate May Jeopardize Global Recovery – ECB

5 April 2021 | Updated: 5 April 2021

The unequal rate with which countries are conducting vaccination campaigns against COVID-19 poses the greatest threat to the global economic recovery, Ignazio Visco, a member of the Governing Council of the European Central Bank and Italy’s central bank governor, warned in an interview with the Financial Times.

“We need to maintain close international cooperation within the G20 to avoid the different stages of the vaccination campaign in different countries leading to excessive disparities in the economies of the countries concerned,”

“Increasing the issuance of the IMF’s Special Drawing Rights to help developing countries recover will be one of the main topics of discussion at the meeting.”

“But now the most important thing is to vaccinate people.” “The main instrument we have at the moment is neither monetary nor fiscal, it is vaccination.”
France Raises the Deficit, Debt Predictions for 2021, Cuts GDP Estimates to 5%
Speaking on LCI TV, French Finance Minister Bruno Le Maire on Sunday revised the forecast for France’s government deficit from 8.5% to 9.0%, Reuters reported.

The diplomat also said that public debt this year will reach 118% of GDP, compared with his latest forecast of 115%, and also revised the forecast for GDP growth for this year from 6% to 5%, the report said.

Gloomy economic forecasts show isolation from the third national coronavirus (COVID-19) in a European country. Given the broad strength of the US dollar and serious problems for Brussels, the news should weigh on EUR/USD prices.

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Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.