budget deficit

    • IMF urges countries to spend more on vaccine rollout

      IMF urges countries to spend more on vaccine rollout

      The International Monetary Fund voiced concerns over rising global debt driven by Covid-19 pandemic, Reuters reported. However, The IMF emphasized that benefits for economies from the vaccination process far exceed spending on research and jabs. Spending more money to accelerate vaccinations is the fastest way to start to normalize government finances, the IMF said in its 2021 Fiscal Monitor report. If faster global vaccinations bring the virus under control sooner, more than $1 trillion in additional global tax revenue could be collected through 2025 in advanced economies.

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