- ECONOMIC IMPACT -
Latest update: 6 April (IMF), 26 April (WTO)
Announced fiscal stimulus measures in the US, along with vaccine rollouts across the world, have made the International Monetary Fund (IMF) slightly more confident about the prospects for the global economy this year
Global trade is ready for a strong, if uneven, recovery after the shock of the pandemic, with production and distribution of vaccines key to how the world’s economy performs, according to the World Trade Organization (WTO).
The global economy to grow by 6% in 2021 and 4.4% in 2022 (from 5.5% and 4.4%, respectively, in February), according to the IMF.
In its trade statistics and trade forecast, the WTO estimates world trade in goods will grow 8% in volume in 2021, after falling 5.3% in 2020.
IMPACT OF COVID-19 ON WORLD ECONOMIC OUTLOOK