Vaccine inequality could cost the global economy trillions

Uneven vaccination rollouts are taking a toll on developing economies and threaten the world economy, the Economist Economic Unit reports.

Countries that are not able to inoculate 60% of their population by mid-2022 will lose $2.3 trillion between 2022 and 2025, according to the EIU.

Asia will be the continent most severely affected, with losses projected at $1.7 trillion, or 1.3% of its projected GDP, the highest in percentage terms.

Wealthy nations are pulling ahead in their COVID-19 inoculation rates and are moving toward booster doses as they reopen their economies.

Globally, around 5 billion doses of coronavirus vaccine have been administered globally as of Aug. 23, but only 15.02 million of those doses were in low-income countries.

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