From the op-ed:
"The world can’t afford another pandemic—literally. The global economy contracted by 3.5% in 2020, and is forecast to forego $22trn in lost output through 2025. Yet another pathogen with pandemic potential might emerge at any time. As things stand, we are unprepared and courting disaster. But there is a solution: invest now in preparations for pandemics and maintain a pool of capital in reserve to use if a crisis strikes.
This is one of those linchpin reforms that are sensible but hard to get adopted. Nobody wants to part with money—especially countries trying to restore economic growth following lockdowns. I know this all too well, as a former finance minister for an emerging country. Yet this form of investment is essential to avert potential calamities, and there are ways to argue effectively in its favour.
The idea is one of numerous recommendations issued this month from the Independent Panel for Pandemic Preparedness and Response on which I served, commissioned by the World Health Organisation (WHO). This week health ministers and some heads of state are meeting at the World Health Assembly, the WHO’s decision-making body, to consider the recommendations. Countries need to implement the package as a whole..."
