Global growth to get back to normal by H2 2021: IMF Filed on January 6, 2021
The pandemic is expected to cost the global economy at least $11.5 trillion, including $5 trillion to $5.6 trillion in GDP
The IMF said in a recent forecast that it expects global growth in 2021 to rebound to 5.2 per cent after a 4.4 per cent contraction last year
Global economic growth should get back to normal by the second half of 2021 as the Covid-19 vaccine rollout picks up momentum across the planet, according to Gita Gopinath, chief economist at the International Monetary Fund.
However, the IMF forecaster cautioned that the recovery would be uneven depending on the distribution of Covid-19 vaccines.
Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery
Photo credit: World Bank Group
WASHINGTON, Jan. 5, 2021 – The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms, the World Bank says in its January 2021 Global Economic Prospects.
Although the global economy is growing again after a 4.3% contraction in 2020, the pandemic has caused a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period. Top near-term policy priorities are controlling the spread of COVID-19 and ensuring rapid and widespread vaccine deployment. To
Sierra Leone Telegraph: 06 January 2021:
The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms, the World Bank says in its January 2021
Global Economic Prospects.
Although the global economy is growing again after a 4.3% contraction in 2020, the pandemic has caused a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period.
Top near-term policy priorities are controlling the spread of COVID-19 and ensuring rapid and widespread vaccine deployment. To support economic recovery, authorities also need to facilitate a re-investment cycle aimed at sustainable growth that is less dependent on government debt.
World Bank approves $12 billion for COVID-19 vaccines [EN/AR/JP/RU/ZH]
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WASHINGTON, October 13, 2020 – The World Bank’s Board of Executive Directors today approved an envelope of $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests, and treatments for their citizens.
The financing, which aims to support vaccination of up to a billion people, is part of an overall World Bank Group (WBG) package of up to $160 billion through June 2021 to help developing countries fight the COVID-19 pandemic. It adds new financing to the World Bank’s COVID-19 emergency response programs that are already reaching 111 countries. This financing package helps signal to the research and pharmaceutical industry that citizens in developing countries also need access to safe and effective COVID-19 vaccines. It will also provide financing and technical support so that developing countries can prepare for deploying vaccines at scale, in coordinat