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IMF: expects the global economy to grow by 6% this year. Novel coronavirus's epidemic will be difficult to end by the end of next year.
Jul 22,2021 16:52CST
Translation
Source:Financial Union
The content below was translated by Tencent automatically for reference.

On Wednesday, local time, International Monetary Fund (IMF) Managing Director Christina Georgiyeva (Kristalina Georgieva) said that the IMF's latest forecast for global economic growth in 2021 is about 6%, which is the same as that in April, but has raised or lowered the economic growth rates of some countries.

IMF is scheduled to release its latest forecast for the world economy on July 27th, but Georgiyeva on Wednesday revealed ahead of time IMF's forecast for global economic growth this year.

Georgieva also said that unless novel coronavirus's vaccination rate is accelerated, the economic recovery will be hindered. She added that the goal of ending the novel coronavirus epidemic by the end of 2022 would not be achieved at the current rate.

In April, the IMF predicted that the global economy would grow by 6 per cent in 2021, the fastest pace since the 1970s, as vaccine supplies improved and the global economy reopened with the help of unprecedented fiscal stimulus.

But Georgiyeva said that the relative lack of vaccine supplies in developing countries and the rapid spread of the novel coronavirus variant of Delta could slow the economic recovery.

"July is 6 per cent, but between April and July, the composition of that 6 per cent has changed." "some countries expect growth to increase, while others expect growth to slow," Georgiyeva said. What's the difference? It is mainly about the speed and effectiveness of vaccination, as well as the financial space for measures to be taken. "

She said that the goal of the IMF and the World Bank is to provide US $50 billion to countries to increase the vaccination rate of novel coronavirus vaccine, and that more vaccines may now be needed than the 11 billion doses originally contemplated, because enhanced injections may now be a necessary option. However, in some developing countries, there is still a severe shortage of vaccines and a lack of adequate cold storage facilities, which will be an important obstacle to economic recovery.

Global economy
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