The global economic recovery will most definitely be held back unless the pace of COVID-19 vaccinations picks up in pandemic stricken countries, as remarked by the IMF Managing Director, Kristalina Georgieva.
While addressing an online event, she added a prediction that the global growth for 2021 will be about 6 percent, which was the same as forecasted in April, reported Reuters.
In April, the IMF had projected that the 2021 global growth would slide by six percent — a rate that had previously been observed during the shaky 1970s. With similar trends predicted for the remainder of the year, the IMF’s focus has now shifted towards global vaccination trends as countries are expected to adjust their fiscal activities on account of vaccine availability and the rate of inoculation as a safeguard against inflation and other pariahs of economic uncertainty.
In this regard, the IMF has hinted at a large-scale partnership with the World Bank to help the countries that are struggling with curbing the coronavirus.
In the meantime, the IMF is scheduled to release its next World Economic Outlook forecast update on 27 July in a report that could hint at a few possible venues for all the countries to consider while addressing the issue at hand.