Battered By COVID-19, IMF Expects 5.5 Per Cent Global Economic Growth For 2021

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IMF Chief Kristalina Georgieva while Speaking at the World Economic Forum’s online Davos Agenda Summit, said the IMF is projecting 5.5 per cent global economic growth for 2021, which is higher than before.

“But, we won’t be winners after this crisis, unless capitalism globally brings people closer together,” Georgieva said. She also called for stepping up the action to support low-income countries.

“Just to give you the number that is staggering, big countries are reporting 20 per cent GDP in support during this crisis. In poor countries, it is 2 per cent of GDP and their GDP is tiny,” she said. Participating in a panel discussion on ‘Implementing Stakeholder Capitalism’ during the summit, the IMF Managing Director said, “In 2021 we are going to be looking at the race between a mutating virus and the vaccines; the resolve of policymakers to continue to support the most vulnerable, including young people, women and low-skilled workers; and the need to revitalize global cooperation.” “It was not up to par last year,” she added.

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