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IMF Lifts Global Growth Forecast for 2021 to 6%
IMF chief economist, Gita Gopinath, says multispeed recoveries are in place in regions and across income groups, linked to the differences in vaccine rollout, and extent of economic policy support.
All regions in the world are expected to grow faster than estimated in January 2021 by IMF.
US - forecast raised to 6.4% from 5.1%, this follows contraction of 3.5% in 2020. Rapid vaccination drive and large economic support under president Biden accelerating growth. About $5 trillion in economic support in the US by April 2021.
Europe- forecasts raised for growth in UK and Italy.
Latin America- growth forecast raised to 4.6% from 4.1%.
Africa- growth forecast raised to 3.4% from 3.2%.
Emerging and developing economies including India as a whole- growth forecast raised to 6.7% from 6.3%.
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