Slow COVID-19 vaccination to cost global economy $2.3 trillion: Study
The slow rollout of coronavirus vaccines will cost the global economy $2.3 trillion in lost output, a report released Wednesday found.
The Economist Intelligence Unit's study found that emerging and developing economies, whose vaccine rollouts are far behind those of wealthier countries, will bear the brunt of those losses.
The report comes as advanced nations move towards providing booster shots to their populations while the international effort to provide vaccines for poorer nations remains inadequate.
The study calculated that countries which fail to vaccinate 60 percent of their populations by mid-2022 will suffer the losses, equivalent to two trillion euros, over the 2022-2025 period.
"Emerging countries will shoulder around two-thirds of these losses, further delaying their economic convergence with more developed countries," the EIU said.
