IMF ups 2021 global growth forecast to 6% on back of U.S. stimulus

The International Monetary Fund on Tuesday raised its forecast for global growth by 0.5 percentage point from its January estimate to 6.0 percent in 2021, reflecting a boost from the latest massive U.S. coronavirus economic relief package. The expansion would be the largest in four decades of publicly available data from the IMF, marking a sharp turnaround from a 3.3 percent contraction last year — the worst peacetime decline since the Great Depression — due to the coronavirus pandemic. While also upgrading the global growth outlook for 2022 by 0.2 point to 4.4 percent, IMF chief economist G…

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