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SINGAPORE - Future pandemics will be more frequent and deadly, and the world cannot wait for Covid-19 to be over before it makes urgent global investments and reforms. This needs at least US$75 billion (S$101 billion) over the next five years - more than what the international community has been willing to spend, but negligible compared with the costs of another major pandemic - a committee of leading global experts told leaders of the world s largest economies gathered in Venice on Friday (July 9). The Group of 20 (G-20) panel, co-chaired by Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam, among others, said pandemics will cost governments 700 times what it is proposing in yearly additional international investments.

United statesTharman shanmugaratnamNgozi okonjo iwealaLawrence summersGlobal health threats fundWorld bank international development associationGlobal health threats boardCentral bank governors meetingWorld trade organisationWorld health organisationSenior ministerCoordinating ministerSocial policies tharman shanmugaratnamWorld bankInternational developmentUnited states treasury secretary lawrence summers