Omicron worries about the global economy, Mody’s said uncertainty

Covid 19: This includes the whole of Sub-Saharan Africa where the vaccination rate is less than fifty percent. In sixty countries around the world, this rate is less than 20 percent.

The new variant is currently the most concern for the World Health Organization. According to Moody’s Analytics, scientists around the world have started studying new variants.

As soon as the economy started recovering from the second wave of Kovid 19, now Omicron may emerge as a new crisis. According to Moody’s Analytics, the new variant of Kovid 19 Omicron is adding many uncertainties to the global economic outlook. However, apart from the speed of its spread, hospitalization and mortality, the economy will also depend on how effective the vaccines are.

The situation will be clear in two weeks

According to the Economic Times, Moody’s Analytics has made a comment in this regard with the title of ‘Much to learn about Omicron fast’. In which it is clearly said that Omicron seems to be spreading rapidly. Despite this, it will take at least two weeks to get all the information related to this variant. According to Steve Cochran, Chief APAC Economist at Moody’s Analytics, this new variant of Kovid 19 can lead to an atmosphere of uncertainty in the economy.

However, before reaching any conclusion, it is important to understand its risk. It’s not good to be in a hurry at the moment. The speed of the spread of Omicron, its impact on people, hospitalization, mortality, the effect of vaccines and medicines against it, everything has to be understood.

New variant found in 12 countries

South Africa had informed the WHO for the first time on 24 November about the new variant of Kovid 19, Omicron. It has since been identified in about 12 more countries, including Botswana, Belgium, Hong Kong, Israel, the UK, Germany and Australia. On Friday, the WHO called it a variant of concern and also named it Omicron. The new variant is currently the most concern for the World Health Organization. According to Moody’s Analytics, scientists around the world have started studying new variants.

It may take two weeks to figure this out. Only then the situation will be clear. India has faced the second wave till April-May. The restrictions were eased to a large extent amid the Delta variant’s efforts to emerge from the woes. Now it is also facing the challenges of the Omicron variant.

Status of Asia Pacific Region

Moody’s Analytics further said that the Asia Pacific region will have to face some new factors in the coming days. Especially when two cases of Omicron have been detected in Hong Kong and Australia. First of all there is a need to accelerate the vaccination program in this region. Countries including Myanmar, Laos, Indonesia, India, Hong Kong, Thailand, the Philippines and Vietnam still vaccinate less than 65 percent of their population. This also includes children under the age of 12 who are not vaccinated.

According to Moody’s Analytics, travel and tourism is growing at the slowest pace in terms of economic recovery after the pandemic. After the new variant, it will be seen what effect it has in Hong Kong and China. The new variant Omicron has become a new risk for the economy of those countries where the vaccination rate is very low. This includes all of Sub-Saharan Africa where vaccination rates are less than fifty percent. In sixty countries around the world, this rate is less than 20 percent.

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