Insider Inc.
GmbH (Imprint
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Xinhua/GettyThe
the International Monetary Fund's
IMF
the Institute for International Finance
the World Bank
G20
Debt Service Suspension Initiative
The DSSI
the World Health Organization's
Moderna
AstraZeneca
CNBC
NYC |
Liu Jie
Kristina Georgieva
Soumya Swaminathan
Jim Osman's
COVID-19
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Personalized Market Center
US
Washington DC
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"Faster progress on medical solutions could speed up the recovery; it could add almost $9 trillion to global income by 2025," IMF's managing director Kristina Georgieva said at the fund's committee meeting on Thursday.Georgieva added this can help bridge the gap between poorer and richer countries. While this was slightly better than the IMF's earlier prediction of a 4.9% drop, the fund said the global economy is far from staging a complete rebound and downgraded its 2021 growth forecast to 5.2% to 5.4%.Georgieva said global public debt is expected to swell to a record high of 100% of GDP in 2021, mainly because countries need to boost spending to fight COVID-19 and secure a recovery.
As said here by Saloni Sardana