The COVID-19 Pandemic Impacted the Realization of Agenda for Sustainable Development，and IMF Provided SDR Allocation to Support Economies

1. Key Concerns

On August 24, Asian Development Bank (ADB) released Key Indicators Report for Asia and the Pacific 2021, in which data presented that the COVID-19 pandemic may plug almost 80 million people in developing Asia into extreme poverty and further exacerbate regional inequalities. The report noted that the COVID-19 pandemic hits public health and education and causes work interruption, which is more severe in low-income countries. The impact of restrictive measures (such as community block, suspension of public services, travel restrictions, etc.) on the economy continues to emerge.

In response to the impact of the COVID-19 pandemic, the IMF's largest allocation of Special Drawing Rights (SDRs) in history, worth $650 billion, came into force on August 23, in order to inject additional liquidity into the global economic system. This is one of additional policies of support to the COVID-19 response from the IMF, which also include financing, debt relief, policy advice and capacity building.

2. Briefing on COVID-19 Pandemic

According to WHO statistics, calculated numbers of confirmed COVID-19 cases and deaths reached 213,050,725 and 4,448,352 by August 25, 2021. The U.S., Iran, the U.K., India and Brazil were the five countries (regions) with the highest number of new confirmed cases in the past seven days. The U.S., Indonesia, Russia, Brazil and Mexico were the five countries (regions) with the highest number of new deaths in the past seven days.

The inequality in global vaccine access has increased, and some countries (regions) are facing pandemic prevention challenges. Statistics from Our World In Data, an online research site of the University of Oxford, presented that 5,040,013,523 doses had been administered by August 24, 2021. The report published by the Economist Intelligence Unit on August 25 noted that there is a huge disparity between high-income and low-income countries in vaccination rates for COVID-19, which will have long-term impacts. The report further warned that this inequity could have huge political, social and geopolitical consequences.

3.COVID-19 restrictive measures

In terms of COVID-19 controlling measures taken by countries (regions), this issue focus on Asia-Pacific region. Ho Chi Minh City has implemented enhanced pandemic prevention measures from August 23 to September 6, which only permits particular group, such as pandemic prevention personnel, police,infrastructure maintenance managers and people who regularly seek medical care and receive COVID-19 vaccines, to go out. The Indonesian Government has further extended restrictions on public movement in Java and Bali. Pakistan has accelerated its domestic COVID-19 vaccination schedule requiring all international and domestic travellers to be vaccinated against COVID-19 from September 30. On August 25, Japan announced to further expand the scope of the state of emergency. New Zealand has extended lockdown measures in Auckland and Wellington.