IMF to upgrade global growth outlook for 2021, 2022 amid vaccination

The International Monetary Fund said Tuesday it plans to revise upward its global economic forecast for 2021 and 2022, citing a new U.S. coronavirus relief package and expectations toward vaccine-powered recovery in many advanced economies later this year. Noting that global growth in 2021 was projected in January to be 5.5 percent, Managing Director Kristalina Georgieva said in a speech ahead of the annual spring meetings of the IMF and the World Bank, “We now expect a further acceleration.” She said “extraordinary effort,” including rapid vaccine development, some $16 trillion in fiscal acti…

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