Money & Banking

Omicron Covid variant: Policymakers, markets will shoot from the hip without data, says Uday Kotak

Our Bureau | | Updated on: Nov 29, 2021
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Kotak's comment comes even as many countries have once again begun shutting down cross-border travel

With the Omicron variant scare gripping the world, people, markets, and policymakers worldwide will shoot from the hip in crisis management without data, Uday Kotak said on Monday.

"Omicron variant scare today, something else tomorrow. People, markets, and policymakers worldwide will shoot from the hip in crisis management without data. Welcome to the ‘never’ normal world we live in!" Kotak tweeted.

Kotak's comment comes even as many countries have once again begun shutting down cross-border travel. Currency and stock markets around the world crashed on Friday as a knee-jerk reaction.

Meanwhile, WHO designated the variant B.1.1.529 a variant of concern, named Omicron, on the advice of WHO’s Technical Advisory Group on Virus Evolution (TAG-VE). This decision was based on the evidence presented to the TAG-VE that Omicron has several mutations that may have an impact on how it behaves, for example, on how easily it spreads or the severity of illness it causes.

Published on November 29, 2021

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