Connect with us

Hi, what are you looking for?

Economy

US, Japan set for recovery in second half of 2021, IMF chief economist says

WASHINGTON — Economic stimulus approved in the United States and Japan at the end of last year will help to power a recovery in their economies in the second half of 2021, International Monetary Fund (IMF) chief economist Gita Gopinath said on Wednesday.

Ms. Gopinath told Yahoo Finance in a live interview that the US and Japanese rebounds may prompt upgrades of economic forecasts in some parts of the world. But she said the recovery in some developing countries could be delayed until 2022 by limited availability of coronavirus vaccines.

She repeated earlier remarks that the global economy is starting 2021 in a stronger position than anticipated last year due to a stronger-than-forecast performance in the third and fourth quarters. Ms. Gopinath, however, added that the outlook was clouded by a race between the surging coronavirus disease 2019 (COVID-19) pandemic and the worldwide vaccination campaign.

But the combination of a stronger starting point and new stimulus “should power recovery in the second half,” Ms. Gopinath told Yahoo Finance. “Based on the 2020 better-than-expected numbers, we should see an upgrade in some parts of the world.” That assumes that vaccines will be widely distributed by mid-year in those countries, she said, adding that those with limited access to vaccines will recover more slowly, including many developing economies.

The International Monetary Fund is expected to revise its World Economic Outlook forecasts on Jan. 26. In October, it forecast a 4.4% global GDP contraction for 2020, followed by a rebound to growth of 5.2% for 2021.  Reuters

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

A Saudi flag flutters atop Saudi Arabia’s consulate in Istanbul, Turkey Oct. 20, 2018. — REUTERS/HUSEYIN ALDEMIR/FILE PHOTO RIYADH — Saudi Arabia’s crown prince...

Economy

IN FEB. 2019, Facebook, Inc. set up a test account in India to determine how its own algorithms affect what people see in one...

Economy

CHINA’S economy risks slowing faster than investors realize as President Xi Jinping’s push to cut its reliance on real estate and regulate sectors from...

Economy

Faced with a high level of competition in an era of streaming services, content providers must stay ahead by developing a strong user experience...

Economy

The Philippines remains under a “gray” list of countries under increased monitoring for money laundering and terrorism financing risks, despite some progress in implementing...

Investing

A Brewdog promotion which said customers could win “solid gold” beer cans was misleading, the advertising watchdog has found. The Scottish brewer offered shoppers...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Economy

Pfizer Inc on Wednesday raised its 2021 sales forecast for its COVID-19 vaccine by 29% to $33.5 billion, and said it believes people will...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.



Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!