Chizu Nomiyama
IMF, World Bank urge G7 to release surplus vaccines
The heads of the International Monetary Fund and World Bank on Thursday urged the Group of Seven advanced economies to release any excess COVID-19 vaccines to developing countries as soon as possible, and called on manufacturers to ramp up production. In a joint statement to the G7, IMF Managing Director Kristalina Georgieva and World Bank President David Malpass also called on governments, pharmaceutical companies and groups involved in vaccine procurement to boost transparency about contracting, financing and deliveries. “Distributing vaccines more widely is both an urgent economic necessity and a moral imperative,” they said. “The coronavirus pandemic will not end until everyone has access to vaccines, including people in developing countries.” Malpass and Georgieva will meet in person ...
U.S. imposes fresh sanctions on Iran in final days of Donald Trump presidency
The United States on Friday sanctioned companies in Iran, China and the United Arab Emirates for doing business with the Islamic Republic of Iran Shipping Lines and on three Iranian entities over conventional arms proliferation. They are the latest in a series of measures aimed at stepping up pressure on Tehran in the waning days of President Donald Trump’s administration, which ends on Jan. 20. U.S. Secretary of State Mike Pompeo said Washington had sanctioned seven companies, including Chinese-based Jiangyin Mascot Special Steel Co. and UAE-based Accenture Building Materials, and two people for shipping steel to or from Iran. He said Iran’s Marine Industries Organization, Aerospace Industries Organization and the Iran Aviation Industries Organization had also been blacklisted over conven...
California hospitals overrun even as vaccine is rolled out
Even as high profile figures like U.S. Vice President Mike Pence rolled up their sleeves for COVID-19 vaccinations, patients already ill with the disease crowded emergency rooms and overran intensive care units in California, now a worldwide epicenter. Another 41,000 people tested positive in the most populous U.S. state on Thursday, and 300 died, state public health officials said. In a state with 40 million residents, only about 1,200 intensive care beds remained available by Friday – just 2.1% of the total, the California Department of Public Health said. “We anticipated a surge, but I’m not sure if anyone imagined it would be as bad as it has been,” said Adam Blackstone, a spokesman for the Hospital Association of Southern California. Hospitals are strained under the press of patients,...
Joe Biden picks diverse team of top economic advisers
President-elect Joe Biden named former Federal Reserve Chair Janet Yellen as his Treasury secretary nominee on Monday, and named three women to other top economic posts, setting the stage for a more diverse White House. While Biden’s transition to the presidency on Jan. 20 appeared to be hitting its stride, he himself was hobbling after fracturing his foot while playing with his dog on Saturday and will wear a protective boot for several weeks, his doctors said. The incoming administration has been hampered for weeks by Republican President Donald Trump, who has refused to concede to Biden, a Democrat. Trump has said without providing evidence that the Nov. 3 vote was fraudulent, claims that state and federal election officials have dismissed. Biden named leading members of an economic tea...
