The International Monetary Fund raised its forecast for global economic growth in 2021 saying that the dip will be a almost a full percentage point less severe than expected.
In its latest World Economic Outlook, the IMF forecast a 2020 global contraction of 3.5%, an improvement of 0.9 percentage points from the 4.4% slump predicted in October.
The IMF said that vaccine approvals and the launch of vaccinations in some countries in December has boosted economic activity. IMF also warned of further waves that can cause the world economy “exceptional uncertainty”.
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