The IMF urges China to vaccinate more and support the economy

The IMF urges China to vaccinate more and support the economy

The IMF urges China to vaccinate more and support the economy

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As the pandemic rages in China, with 30,000 cases per day, the IMF has urged the country to significantly increase the pace of Covid-19 vaccinations.

According to the deputy director general of IMFThe combination of more contagious variants of covid-19 and persistent gaps in vaccines has led to the need for more frequent lockdowns, weighing on the rate of consumption and private investment, including in housing said Gita Gopinath.

Therefore, it is necessary to increase the pace of vaccinations, believes the deputy managing director of the IMF, but also to maintain an accommodative budgetary policy to reactivate consumption and real estate, which are under pressure in the country. And this, in particular, by facilitating access to credit for construction companies and home buyers.

The IMF, however, believes China’s economic risks are tempered by the global slowdown, rising energy prices and tightening global financial policies. The Fund also stands by its Chinese GDP growth forecast released last month. Or 3.2% in 2022 and 4.4% in 2023. And anticipates the gradual cessation of politics “zero covid” in the second half of 2023.

Also read: Beijing districts under glass after the first deaths from Covid-19 in six months

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