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Global growth to rebound 5.5% in 2021 amid vaccine hope: IMF

Jan. 26, 2021 - 22:18 By AFP
The International Monetary Fund
WASHINGTON (AFP) -- Optimism that new vaccines will bring the pandemic under control and allow economic activity to resume coupled with stimulus in major economies has boosted the growth forecast this year to 5.5 percent, the IMF said Tuesday.

“These developments indicate a stronger starting point for the 2021-22 global outlook,” the IMF said in its latest World Economic Outlook (WEO).

The fund expects growth in the United States to be a full two points higher than previously projected at 5.5 percent, its strongest rate since 1984, while the IMF forecasts China growing 8.8 percent.

But the Washington-based crisis lender warned the outlook is beset by “extraordinary uncertainty” and more action is needed to prevent lasting damage.