The multilateral institution has improved its growth forecasts for this year. The global recession would now only be 4.4%. While it predicts a rebound next year, it expects global growth to remain sustainably weak in the years to come.
The IMF’s chief economist, Gita Gopinath, calls for significant policy innovations to recover from the Covid-19 calamity.
“The ascent will likely be long, uneven, and uncertain.” Gita Gopinath, the chief economist of the International Monetary Fund (IMF), is very cautious about the sustainability of the emerging economic recovery.
In releasing new growth forecasts, the multilateral institution has slightly adjusted its figures upwards for the current year.
