The likelihood of a co-ordinated global economic rebound from the coronavirus pandemic has diminished as slower vaccination rollouts and a fresh wave of infections in some countries result in “sharply divergent growth prospects”, according to exclusive research for the Financial Times.

The main driver of economic success in 2021 is likely to be the ability to control the virus, according to the Brookings-FT tracking index, which forecasts that advanced economies will outperform emerging markets in growth, financial indicators and investor confidence in the coming months.

The index comes as finance ministers and central bankers prepare for the latest virtual meetings of the IMF and World Bank this week. The diverging economic outlook will add tension to the already fraught global battles over vaccine production and distribution.