Preceding each Industrial Revolution, there was a big event, a game-changer. Starting with 1IR (1st Industrial Revolution) which was driven by capitalism to 4IR.
2019 saw a once-in-a-lifetime, hopefully, mega Covid-19 event which resulted in a still-spiralling global pandemic. Two drivers shaped the emergence of the 5th Industrial Revolution: resilience and sustainability.
The International Monetary Fund (IMF) will inject $650 billion in Special Drawing Rights into the global economy. It will allocate them among its member states, which can then decide for themselves how they want to use their Special Drawing Rights.
This injection, which will take place on 23 August 2021, is more than double the total number of Special Drawing Rights the IMF has ever issued and is equal to about 5% of total global reserves.
The IMF will allocate the Special Drawing Rights among its member states based on their quotas, which are determined by the size of a country’s economy and its role in the global economy. Therefore, about 60% of these funds will go to rich countries that do not need them. African countries will receive $33.6 billion, with the lion’s share going to the five largest economies on the continent – South Africa, Nigeria, Algeria, Morocco and Egypt.
Antibiotics are life-saving drugs produced primarily by microorganisms which have been found in a variety of environments.
From penicillin discovered on mouldy old laboratory plates to tetracycline from soil, these compounds revolutionised medicine. The antibiotic industry is now worth over US$40 billion.
Yet despite the importance of antibiotics, the size of drug companies and continuous research in developed countries, the antibiotic pipeline is almost empty.