IMF: growth prospects dim as pandemic lingers
Fund revises down growth forecasts, warning of inflation, disruption and divergence
The International Monetary Fund warns Covid-19 is continuing to wreak havoc in the global economy.
In its new World Economic Outlook report, the fund affirms that the global recovery is ongoing, but revises down its July GDP forecast for 2021 by 0.1%, to 5.9%. “The balance of risks for growth is titled to the downside”, the report states.
In her foreword, chief economist Gita Gopinath says that the “momentum” of economic progress is “hobbled by the pandemic”. The highly transmissible Delta
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