NEWS

IMF Warns That The Global Economy Is Losing Steam

The surge in COVID-19 infections has prompted a new warning from the International Monetary Fund (IMF).

The international agency has warned that the global economic recovery may not be as robust as first anticipated.

Fund chief Kristalina Georgieva said more financial help is needed and warned countries against withdrawing aid too soon.

Although the new vaccine developments are viewed positively, the distribution globally could prove challenging, and the return to normal will take a long time.

Ms. Georgieva noted that the vaccine progress is a step in the right direction; however, she pointed out that the economic path ahead remains difficult and prone to setbacks.

The IMF has predicted the world economy will shrink by 4.4% this year and expects growth of 5.2% next year.

Carol May, Readers Bureau, Contributor

Edited by Jesus Chan

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