Davos: Asserting that the world economic recovery from the COVID-19 pandemic is very fragile and uneven, United Nations Secretary-General Antonio Guterres on Monday said the global financial system has failed the low-income countries when they needed it the most.
“The world is recovering from the pandemic, but the recovery is still fragile. Vaccination rates in some countries is seven times higher than the same in African nations,” he said.
“Global financial system has failed them when they needed it the most and a global solidarity is lacking,” he added as reported by ANI.
In a special address at the World Economic Forum’s online Davos Agenda 2022 summit, Guterres said the low-income countries have a huge disadvantage, while rising food prices are hitting the recovery very badly especially in low to middle-income nations.
He also took to twitter writing that current global financial system is broken and denying developing countries the resources , debt relief and investment so that they can recover.
Talking about Covid vaccine equity, he said, “Last fall, the World Health Organization unveiled a strategy to vaccinate 40 per cent of people in all countries by the end of last year and 70 per cent by the middle of this year. We are nowhere near these targets.”
“Vaccination rates in high-income countries are shamefully seven times higher than in African countries, and we need vaccine equity now,” he added.
Guterres, who began a second five-year term as UN chief on January 1, has long been pushing for more global action to address COVID-19 vaccine inequity and climate change and for reform of the global financial system.