The International Monetary Fund Managing Director Kristalina Georgieva said, while speaking to the Council of Foreign Relations, that the IMF had raised its forecast for global economic growth to 5.5% in 2021 and 4.2% in 2022, after last year’s 3.5% contraction, but financial conditions remain highly uncertain.
She continued, “the global economy was on firmer footing after various governments spent more than $16 trillion on fiscal measures to counter the COVID epidemic and mitigate its economic impact. However, developments are diverging dangerously across regions and countries, and even within nations. Vaccines are not yet available to everyone and everywhere. Too many people continue to face job losses and rising poverty. Too many countries are falling behind”.
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