The International Monetary Fund (IMF) is forecasting this month that global growth for 2021 will be around 6%, the same level as forecast for April, but growing faster in some countries and slower in others, said the IMF’s managing director, Kristalina said. Georgieva, this Wednesday (21).
Georgieva, speaking at an online event sponsored by the Peterson Institute for International Economics (PIIE), said the recovery would stall unless the pace of vaccination against Covid-19 picks up and added that the pandemic would have to end by the end of 2022. The goal of will not be received at the current speed.
The IMF projected in April that global growth would reach 6% in 2021, a rate not seen since the 1970s, as vaccine availability improved and economies reopened with unprecedented financial stimulus , especially in the United States.
But Georgieva said the relative lack of access to vaccines in developing countries and the rapid spread of the delta version of Covid-19 threatens to slow the pace of recovery.
The IMF will issue its next forecast update in the World Economic Outlook Report on July 27, but Georgieva said the fund’s projected global growth rate for this year will remain at 6%.
“It’s 6% in July, but the composition of that 6% has changed between April and July,” Georgieva said in a PIIE session with former EU trade commissioner Cecilia Malmström.
Georgieva said, “Now, some countries are projected to grow faster, some countries are expected to grow slower now. What’s the difference? It’s mainly about the speed and effectiveness of vaccination and the financial space to act.” availability.”
He added that the IMF-World Bank goal of providing $50 billion to countries to raise Covid-19 vaccination rates would initially require more than 11 billion doses, as booster doses may now be necessary and in some developing countries. Also to cover loss of dosage. Lack of adequate storage facilities.
