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Rich countries must open the way to cheaper mass-produced COVID-19 vaccines in order to protect every person in the world and avert a $9 trillion “worst case” global economic catastrophe, said Oxfam today. They should also agree this week to inject $650 billion more into the global economy to help developing countries cope with the pandemic’s already devasting effects.

In response to the announcement today from French President, Emmanuel Macron, that France will support a temporary waiver on intellectual property for COVID-19 vaccines, tests and treatments, Oxfam’s Health Policy Manager, Anna Marriott, said: “It is fantastic news that President Macron has joined US President Biden on the right side of history by supporting the calls from India and South Africa, as well as millions of people around the world."

More than a million people have died from COVID since G7 leaders last met back in February, when they made vague pledges to increase the global vaccine supply, but crucially failed to collectively back the waiver of intellectual property rules and investment in manufacturing vaccines in developing countries that would really make the difference.