IMF: Global Economic Growth Forecast For 2021 at 5.5% vs. 5.2% in October

In its latest World Economic Outlook report, the International Monetary Fund (IMF) revised up its forecast for 2021 global economic growth to 5.5% from 5.2% in October’s publication, as reported by Reuters.

“IMF forecasts 2020 global economic contraction at 3.5% vs. October forecast of 4.4% contraction, cites stronger-than-expected momentum in second half 2020.”

“IMF cites ‘exceptional uncertainty’ about the economic outlook, says renewed waves and variants of covid-19 pose risks.”

“IMF forecasts 8.1% growth in global trade volumes in 2021, moderating to 6.3% growth in 2022, following a contraction of 9.6% in 2020.”