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G20 must prioritise global Covid action at October meeting | Jeffrey Frankel

US and other rich countries must allocate more to make vaccines available to low- and middle-income countries

Finance ministers, central bank governors and political leaders are hard at work preparing for the 2021 G20 heads of state and government summit in Rome on 30-31 October. With the Covid-19 pandemic stretching well into its second year, the meeting will come at a time of heightened uncertainty about public health and the global economy. And though the mechanisms of international cooperation have been weakened by the pandemic and remain bruised by Donald Trump’s legacy, they are more important than ever.

“Cooperation” need not refer to international coordination of national monetary or fiscal policies. For the most part, countries on their own can move those levers in whatever direction is best for them. Instead, the G20 should focus on financial stability, trade and vaccination. This is in addition to other important areas, especially the existential issue of global climate change, which should and will receive a lot of attention.

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Read the original article at The Guardian

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