Ann: SYD completes institutional component of Entitlement Offer, page-24

Herd immunity? Not for a very long time, if ever.

Even the USA - the worst rate in the world - only has 3-4 million cases of their 300 million population. Herd immunity begins with about 60% infected.

So numbers are nowhere near herd immunity, and from evidence so far, immunity may only last a couple of months anyway.

You are right that most of the rest of the world was slow to respond and is now stuck with fairly high levels of infection. but even that rate is going to take a long time to get to herd immunity levels, like decades. And if immunity only lasts a few months, then herd immunity will never happen, even if 100% have had it.