Business & Economy

Former Dominican president says uncertainty created by pandemic to endure

La Romana (Dominican Republic), Nov 30 (EFE).- Former Dominican President Leonel Fernandez said Tuesday that the world must adapt to living with the uncertainty created by the pandemic, during the opening of a forum with international experts.

“Humanity must prepare itself to live in a world full of complexities, where it will always have to navigate in an ocean of uncertainty,” Fernandez said at the opening of the Global Forum @ Casa de Campo.

The former president said in his speech that as the second anniversary of the outbreak of the coronavirus approaches, the world is moving “in a double direction.”

On the one hand, as a result of the rapid discovery of the vaccine, optimism was generated and there was a reactivation of the global economy.

However variants have emerged, “generating a race between the speed at which the virus spreads and the capacity to vaccinate the greatest number of people in the shortest possible time,” he said.

As a consequence of the pandemic “the ghosts of international public debt and inflation have appeared.

Debt is at its highest level in history, “293 trillion dollars, equivalent to approximately 330% of the planet’s gross product,” according to Fernandez.

The world’s major economies “have accumulated debt up to over 250% of gross domestic product” and inflation “has become the main source of concern and disruption, affecting both consumers and governments.”

Also speaking at the inauguration of the event was Dominican Vice President Raquel Peña, who pointed out the need to “continue to be proactive and creative in the face of the emergence of new variants of the virus,” since the omicron variant “is not and will not be the exception.”

Peña called for intelligent coordination between the scientific world and the political, social and economic spheres.

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