The International Monetary Fund (IMF), estimated that the global growth for 2021 will be approximately 6 per cent, the same as forecast in April, but some countries are growing faster and other more slowly, said Kristalina Georgieva, Managing Director, IMF.
The IMF has predicted in April, 2021 that the global growth in 2021 would hit 6 per cent, a rate that has not been registered since the 1970s, as the economy reopens.
However, Georgieva added that the rapid spread of the COVID-19 Delta variant and the relative lack of COVID-19 vaccines in developing countries is slowing the recovery of the economy.
The International Monetary Fund (IMF) is an international financial institution of 190 countries that works towards fostering global monetary cooperation, securing financial stability, facilitating international trade, promoting high employment and sustainable economic growth, and reducing poverty in the world. Headquartered in Washington, IMF was established in July 1944 by the UN Bretton Woods Conference in the US.