It has attenuated the impact of the emergency on the corporate and household sectors, preventing the destruction of viable physical, intangible and human capital. It has also been key in directing resources to strengthening health-care infrastructures, including for the development of vaccines. Thanks to the policy support and the vaccination campaigns, the recovery is now gaining strength. Economic forecasts are being revised upward.
However, progress is uneven, and less developed and emerging economies are still facing major difficulties in curbing the pandemic. The health crisis will not be over until vaccines are accessible to all countries. Diverging health and economic patterns would not be acceptable, as they would put the global economy and the whole society at risk.