The International Monetary Fund announced that it revised its forecast for the contraction of the global economy for the current year compared to what it had expected last June, indicating that the contraction is expected to be less severe than expected. .
Ahead of next week´s fall meeting of the International Monetary Fund and the World Bank, Kristalina Georgieva, the fund’s general manager, said in Washington on Tuesday that the global economic downturn in the second quarter was less dramatic than it had feared, adding that this allows the economic outlook to be raised somewhat.
The International Monetary Fund had expected at the end of last June that the global economy would record a contraction of 4.9% this year, and the Fund is expected to announce its new forecast next Tuesday.
And Georgieva warned that the Corona crisis is still far from over, "the global economy has returned from the depths of the crisis, but there is still a long time before this disaster ends."
She added that the difficult economic recovery from next year will be "slow, uneven, insecure and prone to relapse."
Last June, the Fund had expected that the global economy would return to growth by 5.4% in 2021
Georgieva called on the international community to cooperate in the development and distribution of the Corona vaccine, "when we overcome the virus everywhere, then we can ensure the full recovery of the economy everywhere."
