NextGen Day

On Monday, G7 economic officials reviewed the global economy’s outlook, increasing vaccination rates around the world to prevent the coronavirus disease pandemic of 2019 (Covid-19), and the significance of robust supply chains.

The G7 finance ministers and governors also examined the macroeconomic implications of climate change, as well as the technical work the G7 would undertake to better understand climate mitigation measures, according to a statement released by the US Treasury Department.

US Treasury Secretary Janet Yellen endorsed the G7 finance ministers’ statement on actions to support antibiotic development, which calls on member states to address the antibiotic development shortfall with a variety of market incentive options, in a virtual meeting of the G7 finance ministers and central bank governors.

A one-billion-dollar antimicrobial resistance action fund will assist bring four new antibiotics to market by 2030, according to the declaration on actions, which was accepted on Monday.
“The need of enhancing preparedness for global health challenges, particularly the silent pandemic’ of antimicrobial resistance (AMR),” according to the statement.

“AMR is already having a huge impact on our economies and health systems,” it said, “leading to an estimated 700,000 deaths worldwide each year from drug-resistant illnesses.”

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