IMF Increases the Global Growth Forecast to 6%

The International Monetary Fund is
expecting a stronger economic recovery in 2021 as Covid-19 vaccine rollouts get
underway. The organization expects the world economy to grow by 6% in 2021, up
from its 5.5% forecast in January. Looking further ahead, global GDP for 2022
is seen increasing by 4.4%, higher than an earlier estimate of 4.2%.

The latest forecasts suggest among advanced
economies the United States is expected to surpass its pre-Covid GDP level this
year, while many others in the group will return to their pre-COVID levels only
in 2022. China, the only major economy that grew in 2020, at 2.3% — will be a
key engine in Asia this year, with GDP now poised to surge 8.4%.