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Omicron variant could dent global economic growth,- IMF chief

Source : 112 Ukraine

But that such hefty price pressures are not being observed equally around the world, allowing other economies to change policy at their own pace
10:12, 4 December 2021

EPA

The International Monetary Fund is likely to lower its global economic growth estimates due to the new Omicron variant of the coronavirus. It was stated by the IMF Managing Director Kristalina Georgieva on Friday, Reuters reports.

"A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of our October projections for global growth," Georgieva said during the Reuters Next conference.

Related: Ukraine promises IMF to vaccinate 17 million people against coronavirus by end of year

Georgieva said high inflation in the United States should be addressed by policymakers but that such hefty price pressures are not being observed equally around the world, allowing other economies to change policy at their own pace.

Earlier, the World Health Organization’s (WHO) spokesperson Christian Lindmeier stated that makers of Covid-19 vaccines should gear up for the “likelihood” of needing to adjust their products to protect against the Omicron variant.

“It is very recommendable that vaccine manufacturers already start planning ahead and plan for the likelihood for having to adjust the existing vaccine. That’s good not just to wait until the final alarm bell rings,” he said during a UN briefing in Geneva.

According to him, the agency is still studying the transmissibility and severity of the new variant, first reported in Southern Africa.

Related: Authorities promised IMF to raise tariffs: How much will Ukrainians pay for gas and heat?

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