Global economies 'not more prepared than before' for new viruses: Expert

GENEVA

The global economies are "not more prepared than before" for new viruses that may cause pandemics, an expert said on Tuesday.

Unveiling a report by the WHO Council on the Economics of Health for All, Mariana Mazzucato, the council’s chair, said that even though people are saying COVID-19 is over, "of course, it's not over because of the interlinked crises," such as financial, health, and climate.

"We know that more pandemics will come our way, as for example, in the permafrost melts, new viruses will appear," Mazzucato said.

"So, are we more prepared now than before? The report says 'no' because we have not treated health for all seriously. We have not designed business models, we have not designed government structures, we have not designed public-private partnerships to be outcomes-oriented," she added.

Underlining that the council has examined the changes needed – including to the structure of patents, public-private partnerships, and budgets – to "design an economy that delivers health for all," she said: "In our final report, we call for new economic policy that is not about market fixing but about proactively and collaboratively shaping markets that prioritize human and planetary health."

For his part, Tedros Ghebreyesus, the WHO chief, said that he announced the creation of the Council on the Economics of Health for All in November 2020 to "rethink economic policy and practice in a way that serves health rather than the reverse.”

He said that after beginning its work in early 2021, the council looked at how to best measure economic development as well as putting forward ideas on how to better finance innovate and create the capacity to deliver health for all.

Praising the council's efforts, Tedros said its work has "surpassed everyone's expectations in the quality and scope of work they have produced."


"First, the report implores the world to stop using GDP as the measurement of progress. It doesn't account for the vast resources that go into unpaid work, which is often the backbone of economic and social activity," he said, underlining the key recommendations of the report.

Secondly, it calls on financing for health to be "both adequate and sustained over the long term," he said.
Furthermore, he said, the council noted that innovation works "best" when there are "vibrant partnerships" between the public and private sectors.

"Those are just a few of the recommendations but I urge everyone to read this landmark report, which will impact thinking in this area for years to come," the WHO chief added.

According to the report, re-investing in a government capacity, a new end-to-end health innovation ecosystem that prioritizes the common good and more money, and higher quality financing is needed to deliver health for all.