IMF Boosts Global Growth Forecast To 6% But Warns Of Unequal Recovery

SourceForbes
SectorEconomy
CountryMiddle east

Topline The International Monetary Fund on Tuesday said it now expects the global economy to grow 6% in 2021—up from its January forecast of 5.5% growth—thanks to fiscal stimulus spending and vaccines are distribution, but some countries will fare better than others. A woman walks past an International Monetary Fund headquarters(IMF) building in Washington, DC on ... [+] April 5, 2021. AFP via Getty Images Key Facts The IMF said that an unprecedented policy response from governments around the world—including legislation like the recently passed $1.9 trillion American Rescue Plan—means that the coronavirus crisis will leave smaller scars than the Great Recession.

Even so, the fund predicts that emerging markets and low-income developing nations will suffer “more significant medium-term losses” because the boosted global growth over the next few years will be driven by advanced economies like the United States and because those countries have more limited policy responses available to them. The IMF also warned of “persistent” increases in inequality within countries as a result of the pandemic, especially for women, ...read more...