IMF urges China to increase vaccination rates and revise its COVID policy

IMF asks China to increase COVID-19 vaccinations . Chinas growth has since slowed and is still under constant pressure from COVID outbreaks, significant challenges in the building industry, and slowing global demand .

Washington, US, November 24: The International Monitoring Fund (IMF) has asked China to increase COVID-19 vaccinations while stressing the importance of readjusting the disease-awareness strategy to tackle challenges posed by China's housing market, as well as slowing global demand.This recommendation came after an annual review of China's economic strategies, which included virtual discussions between the IMF and several senior policy officials on reform progress and challenges, as well as policy responses.However, China's growth has since slowed and is still under constant pressure from COVID outbreaks, significant challenges in the building industry, and a slowing global demand.China recovered quickly from the early-2020 lockdowns while still surviving the global economy's crisis.

Although the current zero-COVID strategy has gotten more nimble with time, the combination of more contagious COVID variants and persisting gaps in vaccinations has placed downward pressure on investment and consumption, as well as local government land sales revenues, according to the global lender.The economic crisis is forecast to increase to 3.2 percent for 2022, rising to 4.4 percent in 2023 and 2024, with external stresses including an increase in energy prices, and further tightening in global Domestically, persistent COVID outbreaks and lockouts, as well as continuing challenges in the construction sector, remain significant risks, according to the IMF Deputy MD.Another reform of the COVID plan should be well prepared, which might include increasing the frequency of vaccinations and keeping it at a high level to ensure that safety is maintained, she said.

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