Amid Exceptional Uncertainty IMF Projects Growth for Rich Countries, Challenges for Developing Countries Amid Exceptional Uncertainty IMF Projects Growth for Rich Countries, Challenges for Developing Countries
January 26, 2021
Washington DC - The International Monetary Fund released projections on the world economy as countries continue to wrestle with the coronavirus. The Fund s World Economic Outlook Update projects 5.5% global growth in 2021, while noting developing countries face growing problems. While the IMF is uncertain in its predictions, it s clear that the developing world is mired in severe challenges due to high debts, few financial resources and lack of access to vaccines, stated Jubilee USA Executive Director Eric LeCompte who has reviewed IMF economic reports for more than a decade.
Policymakers should prepare for pent-up bankruptcies after COVID-19: Gita Gopinath
IMF s report had said that aggressive policy measures amidst the pandemic helped prevent worse outcomes during the recession.
BusinessToday.In | February 2, 2021 | Updated 21:41 IST
Gopinath said unlike previous recessions, firm bankruptcies in advanced economies declined 25 per cent relative to pre-COVID normal due to exceptional policy measures.
Aggressive and swift monetary, fiscal and financial sector policies during the COVID-19 pandemic led to a decline in firms filing for bankruptcies, but policymakers should be prepared for pent-up bankruptcies after the pandemic, IMF Chief Economist Gita Gopinath said.
Sharing International Monetary Fund s (IMF s) World Economic Outlook Update for January on Twitter, Gopinath said unlike previous recessions, firm bankruptcies in advanced economies declined 25 per cent relative to pre-COVID normal due to exceptional policy measures.
Bulls staged a comeback at the Pakistan Stock Exchange (PSX) following a week of bearish trade as the KSE-100 powered past the 46,000-point mark. The index posted gains of 518 points or 1.1% in the outgoing week to settle at 46,385.54 points.
The number of people who have recuperated from the disease has surged to 1,03,94,352, pushing the national COVID-19 recovery rate to 96.96 per cent, while the case fatality rate stands at 1.44 per cent
IMF s Gita Gopinath says India must reduce wasteful expenditure in Budget
Gopinath says government should carry on cash support to poor people in this financial year as well. She says Centre should focus on expanding employment guarantee scheme MGNREGA
BusinessToday.In | January 29, 2021 | Updated 13:07 IST
IMF chief economist Gita Gopinath
International Monetary Fund (IMF) chief economist Gita Gopinath has said the global financial body s projection of 11.5 per cent GDP growth for India by the fiscal year 2021-2022 will be mechanical . She also warned that it ll be damaging for India to tighten policy support amid coronavirus pandemic and instead stressed on reducing wasteful expenditure in Budget.