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IMF forecasts 6% global growth this year as economies reopen

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WASHINGTON (AP) — The International Monetary Fund is sharply upgrading its economic outlook this year for the world’s wealthy countries, especially the United States, as COVID-19 vaccinations help sustain solid rebounds from the pandemic recession.

But the 190-country lending agency has downgraded its forecast for poorer countries, most of which are struggling to vaccinate.

Overall, the IMF said Tuesday that it expects the global economy to expand 6% this year — a dramatic bounce-back from the world’s 3.2% economic contraction in the pandemic year of 2020.

The IMF’s forecast, unchanged from its previous estimate in April, would mark the fastest calendar-year global growth in records dating to 1980.

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Associated Press

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