Post by icemandios on Apr 5, 2022 17:08:34 GMT
Global group calls for $15 billion this year for long term COVID response
Apr. 05, 2022 12:24 PM ET
Pfizer Inc. (PFE), BNTX, MRNA, JNJNVAX, AZN, GSK, SNY, INO, SVA, CASBF, SHTDF, SHTDY, OCGN, MRK
By: Dulan Lokuwithana, SA News Editor2 Comments
A group of global institutions led by the International Monetary Fund (IMF) has proposed $15 billion in grants this year and $10 billion annually thereafter as part of a global strategy to address the long-term risks of COVID-19.
The IMF, in partnership with the Coalition for Epidemic Preparedness Innovations (CEPI), the Global Fund, and Wellcome Trust, made the request on Tuesday in a working paper titled “A Global Strategy to Manage the Long-term Risks of COVID-19.”
“The cost of inaction – for all of us – is very high. We need to act – now,” Gita Gopinath, First Deputy Managing Director of IMF said. The pandemic financing would address a system risk to the global economy, she added, pointing out that, according to IMF estimates, the pandemic losses are expected to reach $13.8 trillion, cumulatively,
Richard Hatchett, CEO of CEPI, argued that vaccines remain one of the most powerful tools against COVID-19, and they will be key for the future response. “But if they are to truly fulfill their potential in preventing future pandemics their development must also go alongside investments in global surveillance, R&D, manufacturing, and health systems,” he added.
“A future in which we are to respond to the next Disease X with new vaccines, therapeutics, and diagnostics in just 100 days is possible—but it will take vision, political will, and commensurate financial investments from governments around the world.”
Leading COVID-19 vaccine developers: Pfizer (NYSE:PFE +1.0%)/ BioNTech (NASDAQ:BNTX -1.6%), Moderna (NASDAQ:MRNA -5.4%), Johnson & Johnson (NYSE:JNJ +1.2%), Novavax (NVAX -10.3%), AstraZeneca (AZN +1.4%), GlaxoSmithKline (GSK +2.6%)/ Sanofi (SNY +1.2%), Inovio Pharmaceuticals (INO -4.3%), Sinovac Biotech (SVA), CanSino Biologics (OTCPK:CASBF +0.0%), Sinopharm (OTCPK:SHTDF) (OTCPK:SHTDY -1.0%), Ocugen (OCGN -2.8%)
Makers of COVID-19 pills: Pfizer (PFE), Merck (MRK +1.2%)
On Monday, U.S. congressional negotiators agreed for $10 billion in additional funding for U.S. COVID-19 response, which excluded a $5 billion proposed for the global efforts.
There Is Still Plenty of Money Left from Past Covid-Relief Bills
By VERONIQUE DE RUGY
March 3, 2022 6:08 PM
During the SOTU address, President Biden listed many of the policies he wanted to implement, including many that were blocked in the Senate when Build Back Better failed to gain any traction. It wasn’t lost on most people, including Senator Joe Manchin. When asked by reporters about whether spending $1.5 trillion to $2 trillion would lower costs and cool inflation, he said, “I’ve never found out that you can lower costs by spending more.”
He is not buying it. Me neither.
That reminded me to check how much of the money from the CARES Act and the ARP still hadn’t been distributed, but should be in 2022. According to the Committee for a Responsible Federal Budget, there is about $740 billion of unspent/committed legislative stimulus funds. Here is a breakdown of some of these ($4 billion or more):
$200b for Covid health spending, $106b for state recovery aid, $104b for tax credits, $52b for stimulus checks, $39b for unemployment benefits, $29.4b for Medicaid funds increase, $26b for rental assistance, $20.6b for disaster-relief fund, $12.7b for economic-injury loans, $10b for capital projects fund (jobs program), $9.7b for compensation to farmers, $9.2b for foreign affairs, $9b for homeowners assistance, $7.8b for national defense, $7b for child-care subsidies, $6.1b for food stamps (SNAP), $5b for education funds, $4.6b for airport aid grants, and $4b for supply-chain funding.
Here is an idea: Maybe we should spend that cash, get inflation under control, and start to balance our books before we start talking about spending more money.
Apr. 05, 2022 12:24 PM ET
Pfizer Inc. (PFE), BNTX, MRNA, JNJNVAX, AZN, GSK, SNY, INO, SVA, CASBF, SHTDF, SHTDY, OCGN, MRK
By: Dulan Lokuwithana, SA News Editor2 Comments
A group of global institutions led by the International Monetary Fund (IMF) has proposed $15 billion in grants this year and $10 billion annually thereafter as part of a global strategy to address the long-term risks of COVID-19.
The IMF, in partnership with the Coalition for Epidemic Preparedness Innovations (CEPI), the Global Fund, and Wellcome Trust, made the request on Tuesday in a working paper titled “A Global Strategy to Manage the Long-term Risks of COVID-19.”
“The cost of inaction – for all of us – is very high. We need to act – now,” Gita Gopinath, First Deputy Managing Director of IMF said. The pandemic financing would address a system risk to the global economy, she added, pointing out that, according to IMF estimates, the pandemic losses are expected to reach $13.8 trillion, cumulatively,
Richard Hatchett, CEO of CEPI, argued that vaccines remain one of the most powerful tools against COVID-19, and they will be key for the future response. “But if they are to truly fulfill their potential in preventing future pandemics their development must also go alongside investments in global surveillance, R&D, manufacturing, and health systems,” he added.
“A future in which we are to respond to the next Disease X with new vaccines, therapeutics, and diagnostics in just 100 days is possible—but it will take vision, political will, and commensurate financial investments from governments around the world.”
Leading COVID-19 vaccine developers: Pfizer (NYSE:PFE +1.0%)/ BioNTech (NASDAQ:BNTX -1.6%), Moderna (NASDAQ:MRNA -5.4%), Johnson & Johnson (NYSE:JNJ +1.2%), Novavax (NVAX -10.3%), AstraZeneca (AZN +1.4%), GlaxoSmithKline (GSK +2.6%)/ Sanofi (SNY +1.2%), Inovio Pharmaceuticals (INO -4.3%), Sinovac Biotech (SVA), CanSino Biologics (OTCPK:CASBF +0.0%), Sinopharm (OTCPK:SHTDF) (OTCPK:SHTDY -1.0%), Ocugen (OCGN -2.8%)
Makers of COVID-19 pills: Pfizer (PFE), Merck (MRK +1.2%)
On Monday, U.S. congressional negotiators agreed for $10 billion in additional funding for U.S. COVID-19 response, which excluded a $5 billion proposed for the global efforts.
There Is Still Plenty of Money Left from Past Covid-Relief Bills
By VERONIQUE DE RUGY
March 3, 2022 6:08 PM
During the SOTU address, President Biden listed many of the policies he wanted to implement, including many that were blocked in the Senate when Build Back Better failed to gain any traction. It wasn’t lost on most people, including Senator Joe Manchin. When asked by reporters about whether spending $1.5 trillion to $2 trillion would lower costs and cool inflation, he said, “I’ve never found out that you can lower costs by spending more.”
He is not buying it. Me neither.
That reminded me to check how much of the money from the CARES Act and the ARP still hadn’t been distributed, but should be in 2022. According to the Committee for a Responsible Federal Budget, there is about $740 billion of unspent/committed legislative stimulus funds. Here is a breakdown of some of these ($4 billion or more):
$200b for Covid health spending, $106b for state recovery aid, $104b for tax credits, $52b for stimulus checks, $39b for unemployment benefits, $29.4b for Medicaid funds increase, $26b for rental assistance, $20.6b for disaster-relief fund, $12.7b for economic-injury loans, $10b for capital projects fund (jobs program), $9.7b for compensation to farmers, $9.2b for foreign affairs, $9b for homeowners assistance, $7.8b for national defense, $7b for child-care subsidies, $6.1b for food stamps (SNAP), $5b for education funds, $4.6b for airport aid grants, and $4b for supply-chain funding.
Here is an idea: Maybe we should spend that cash, get inflation under control, and start to balance our books before we start talking about spending more money.