IMF Lowers 2021 GDP Growth Forecast to 5.9%, 2022 at 4.9%
15th October 2021 | Hong Kong
The International Monetary Fund (IMF) has lowered the global growth projection for 2021 to 5.9% from 6%, and 2022 growth forecast at 4.9%. Gita Gopinath, Economic Counsellor and Director of the Research Department at the International Monetary Fund in the briefing, highlighted risks to economic prospects have increased and policy trade-offs have become more complex in the ongoing Covid-19 pandemic, adding “One of the major risks remains that there could be new variants of the virus that could further slow back the recovery. We’re seeing major supply disruptions around the world that are also feeding inflationary pressures.”
“ IMF Lowers 2021 GDP Growth Forecast to 5.9%, 2022 at 4.9% “
Gita Gopinath, Economic Counsellor and Director of the Research Department at the International Monetary Fund:
“The global recovery continues, but momentum has weakened, hobbled by the pandemic. We have a slight downward revision for global growth for this year to 5.9 percent for next year, our projection remains unchanged at 4.9 percent. The divergences in growth prospects across countries, however, persist and remains a major concern.
One of the major risks remains that there could be new variants of the virus that could further slow back the recovery. We’re seeing major supply disruptions around the world that are also feeding inflationary pressures, which are quite high and financial risk taking also is increasing, which poses an additional risk to the outlook.
The foremost priority is to vaccinate the world. Much greater multilateral action is needed to vaccinate at least 40 percent of the population in every country by the end of this year and 70 percent by the middle of next year. We also need much greater action to address climate change. Individual countries will need to tailor their fiscal and monetary policy to the country’s specific conditions, to the health conditions in their country, to their economic conditions, while also maintaining the credibility of their fiscal and monetary frameworks”
Related:
- IMF World Economic Outlook Report: 2021 to Grow at 6%, 2022 at 4.9%
- IMF: United States Economy to Grow 7% in 2021, 5% in 2022
- IMF Commends Hong Kong Financial System, Official Foreign Reserve at $494.5 Billion
- IMF Revised 2020 Global GDP Forecast from -3% to -4.9%
- IMF 2020 Report & The Worst Recession Since the Great Depression
- Top Videos of IMF World Economic Outlook 2020 Report
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
