Italy’s Premier Mario Draghi opened a conference of the world’s powerhouse economies with a sharp call to pick up the pace in getting vaccines to poor countries, calling the gaping global Covid-19 vaccine gap “morally unacceptable.” Draghi, the host for the two-day Group of 20 summit in Rome, said Saturday that only 3% of people in the world’s poorest countries are vaccinated, while 70% in rich countries have had at least one shot.
The call for more collective help for low-income countries sounded a theme running through the summit, which faces a global economy recovering at different speeds. Climate change, vaccines, the recovery, international taxation are all themes occupying leaders holding their first in-person summit since the pandemic took hold.
Draghi welcomed the Group of 20 heads of state to Rome’s Nuvola cloud-like convention center in the Fascist-era EUR neighborhood, which was sealed off from the rest of the capital. Saturday’s opening session was focused on global health and the economy.
Rich countries have used vaccines and stimulus spending to restart economic activity, leaving the risk that developing countries that account for much of global growth will remain behind due to low vaccinations and financing difficulties.
European Union leaders will meet off-site with African leaders in efforts to further support the continent’s poorest economies in the wake of the Covid-19 pandemic.
French President Emmanuel Macron told reporters on Friday he expects the G-20 to confirm an additional $100 billion to support Africa’s economies.
The money would be provided via the reallocation of part of $650 billion worth of special drawing rights, a foreign exchange tool used to help finance imports issued by the International Monetary Fund.
