Omicron could slow global growth, says IMF chief

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MD Kristalina Georgieva says the IMF is likely to downgrade October growth projections

International Monetary Fund MD Kristalina Georgieva. Picture: YVES HERMAN/REUTERS

“A new variant that may spread very rapidly can dent confidence, and in that sense, we are likely to see some downgrades of our October projections for global growth,” IMF MD Kristalina Georgieva told the conference. A corporate Christmas party in the Norwegian capital Oslo resulted in at least 13 infections, making it the biggest outbreak outside SA, officials said.

WHO emergencies director Mike Ryan said there was no evidence that existing vaccines needed to be modified to fight Omicron. He said officials should work on getting more people inoculated with vaccines now on the market.However, WHO spokesperson Christian Lindmeier told a UN briefing in Geneva that vaccine makers should prepare for the likelihood of adjusting their products.

“I believe in principle at a certain timepoint we will need a new vaccine against this new variant. The question is how urgent it needs to be available,” Sahin said.Australia became the latest country to report community transmission of the new variant. Officials have found the new strain in 10 US states, adding another challenge to a health-care system that is already dealing with more Covid-19 illness caused by Delta.

Aside from wreaking havoc in the travel industry, the clampdown has pounded financial markets and undermined major economies just as they were beginning to recover from the lockdowns triggered by Delta.

 

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