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Global growth to accelerate to record high this year: IMF

Global growth to accelerate to record high this year: IMF

The International Monetary Fund predicted that global economic growth will accelerate to a record high this year in a powerful rebound from the pandemic recession, on the back of the rollout of COVID-19 vaccines and vast sums of government aid. The IMF expects the world economy to expand 6% in 2021, up from the 5.5% it had forecast in January.

Simone
Simone
Shane
Shane 1 weeks

Forgive me if I'm skeptical that our economies will recover as forecasted, on the heels of a global lockdown, patched with massive government spending and further increases in national debt. The financial system has not been stable for a long time. We borrow money at an incredible rate, on the presumption that future growth will continue to rise indefinitely to support the debt. We live in a financial bubble that's ready to pop and some people wouldn't even know it. As of August, almost 100,000 businesses had permanently closed in the US. 7 months later and this figure is potentially more than 200k! https://www.cnbc.com/2020/09/16/yelp-data-shows-60percent-of-business-closures-due-to-the-coronavirus-pandemic-are-now-permanent.html Supply chains around the world are severely strained. Government spending is off the charts. It seems more likely to me that we will face a greater recession in the coming years once this financial bubble bursts. And it'll happen sooner rather than later.

James
James 1 weeks

Of course many economies will rebound having gone down the tubes with the pandemic but much of the perceived rebound is being financed by added government debt that exceeds anything in history.

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Global growth to accelerate to record high this year: IMF

1 weeks