IMF will maintain 6 % global growth forecast for 2021

In the report called "Global Economic Outlook", which will be released next week, they highlight the need to urgently prioritize the vaccination process

Kristalina Georgieva, director of the IMF, stressed that the institution will maintain the precision of global economic growth for 2021 at 6 %, However, she considers it necessary to increase the vaccination process to be able to underpin this recovery.

Georgieva highlighted, during a conference organized by the Peterson Institute for International Economics that “in April we forecast economic growth of 6 %. In July it is also 6 %, but the composition of that 6 % has changed between April and July.”

According to the latest analyzes carried out, some nations will grow more rapidly, compared to the April diagnosis, while in others it will be slower, depending on the speed and effectiveness of the vaccination process. “The difference is mainly in the speed and effectiveness of the vaccines, and the ability to add fiscal space.”

For the representative of the IMF, it is essential to prioritize vaccination against the pandemic “as an economic policy” and with a “sense of urgency” to be able to fight Covid-19. E especially in the face of the new Delta variant, which has been spreading rapidly. “At the rate we are going today, we will be unable to cut the pandemic by the end of 2022.”

Georgieva urged nations that have surplus vaccines to coordinate, according to possibilities, donations to other countries. “If we speed things up, it will cost the same money, but it will have a greater impact.”

The official recalled that the IMF and other multilateral organizations have requested an investment from the international community by 50,000 million dollars, to facilitate access to vaccines and finance actions that boost the end of the pandemic.

M.Rodríguez

Source: bancaynegocios.com

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