The following is a summary of points form the International Monetary Fund Outlook 2021:
- Global economy is projected to grow by 5.5% in 2021 and 4.2% in 2022;
- Economic collapse which was experienced in 2020 had an a serious adverse impact on women, the poor, the youth and the informally employed people across the globe;
- The global economy contracted by -3.5 % in 2020;
- Strong multi-lateral cooperation is needed in order to bring the pandemic under control everywhere including bolstering funding for the COVAX facility to accelerate access to vaccines;
- Global trade volumes to grow by 8% in 2021 and 6% in 2022;
- Approximately 90 million people are likely to fall below the extreme poverty threshold during the 2020/2021;
- A large number of people are still unemployed and underemployed in many countries across the world;
- Resources for health: There is need to secure adequate funding for vaccine buying, distribution, testing, therapies, personal protective equipment and investment in healthcare facilities;
- Assistance from international community through technical know-how and equipment for those with low healthcare system capacity remains crucial;
Read the complete REPORT.
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