Moody’s analyses Omicron could have an impact on APAC's economic recovery

New Delhi: Low vaccination rates against the Covid-19 disease in Asia-Pacific countries, particularly India, according to new study by Moody's Analytics, may exacerbate the existing risk to the economy's recovery.

In a study  titled "Much to Learn About Omicron-Fast," Steve Cochrane, Moody's Analytics' Chief APAC Economist, said on Sunday, "The new Omicron type highlights the existing hazard to the global economy from places or individual nations with poor vaccination rates." He went on to add that these countries' officials "must respond to Omicron by increasing vaccination programmes."

India, Myanmar, Laos, Indonesia, Hong Kong, Thailand, the Philippines, and Vietnam are among the countries with vaccination rates of less than 65 percent (12 years of age and older). This includes all of Sub-Saharan Africa, where rates are still around 50%, and 60 countries throughout the world with rates under 20%.

The latest SARS-CoV-2 virus variation B.1.1.529, commonly known as Omicron, was classified as a "Variant of Concern" (VOC) by the World Health Organization (WHO) this week, indicating that it could be more contagious, virulent, or adept at evading public health measures, vaccines, and medicines.

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