IMF sees 6% world growth, warns developing nations falling behind
[WASHINGTON] The global economy will expand by six per cent this year, but disparities between nations are widening as advanced economies accelerate while developing countries fall behind, the IMF said Tuesday.
While the forecast for global growth is unchanged from the previous estimate in April, the United States is projected to see faster seven per cent growth thanks to massive government spending and widespread Covid-19 vaccinations, while the IMF slashed the forecast for India, which is facing a resurgence of infections.
The recent inflation spike should prove temporary, but in its updated World Economic Outlook, the IMF cautioned that price increases could become "persistent."
AFP
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea readies new system to detect illegal short-selling
US births retreat after pandemic-era growth
Markets are embracing India’s Modi for what he won’t do
Blinken to meet businesses in Shanghai as he kicks off a tough China trip
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise