Covid, Your Cash, And Your Future
BACKGROUND Covid-19-related developments in Israel are closely watched by policy makers. This is because Israel gained early access to supplies of the BioNTech/Pfizer jab. And in return, the country shares nationwide data on how mass vaccination drives affect the pandemic. So, whatever happens in Israel regarding the pandemic can be a useful indicator of where most of the developed world is headed.
THE STATISTICS ARE OUT
The Israeli Ministry of Health has revised downwards the long-term efficacy of the jabs — from the advertised 94 per cent protection from asymptomatic infections against the previously dominant Alpha variant, to as low as 64 per cent against the now-dominant Delta variant.
Two weeks ago, Israel began offering over 60's a third shot of the Pfizer vaccine - embarking on its own public health experiment.And starting tomorrow, over 50's will be offered a third jab. And since this the pattern of vaccinating the most vulnerable first is the one that most developed countries have adopted, it is reasonable to assume that eventually all adults will be offered a third dose. The word on the street is that the long term norm will booster jabs for everyone - to combat against both the natural depletion of immunity with time and also future strains that may emerge.
THE FUTURE
As always, the future is, uncertain. However, based on available data, our analysts predict that international travel restrictions will remain in place for Red List countries until, at least, the 1st of September 2021.
This is because forecasters predict that by that date 5 billion people will have been vaccinated globally. That number of worldwide vaccinations is considered a tipping point at which more countries will enjoy both limited domestic restrictions and sustained low new case numbers. For people whose businesses and other financial interests rely on international travel, this is a critical point.
Finally, based easily observable developments so far this year; our analysts predict that because of the economic impact of lock-downs, countries whose vaccine roll-outs are lower than their peers can expect their currencies to weaken.
At Heritage Pay, we specialise in high value money transfers to emerging markets. We are particularly suited to helping individuals buying property abroad; importers paying foreign suppliers; and international investors. So to discuss how the above may affect your money transfer requirements, please contact your Currency Dealer at Heritage Pay on: +44 (0) 207 117 2934 - free on WhatsApp.
None of the information in this article is, nor should be construed as, financial advice. All foreign exchange transactions involve risk and you should always seek your own independent financial advice before entering into any foreign exchange transaction.
