In the World Economic Outlook Update, IMF warned, “although recent vaccine approvals have raised hopes of a turnaround in the pandemic later this year, renewed waves and new variants of the virus pose concerns for the outlook.”
Still, 2021 global growth forecasts was revised up by 0.3% to 5.5%, “reflecting expectations of a vaccine-powered strengthening of activity later in the year and additional policy support in a few large economies.” Global GDP is expected grow another 4.2% 2022.
