Most advanced economies will emerge from the coronavirus crisis with little lasting damage, thanks to the relatively rapid rollout of vaccines and their willingness to increase sharply public spending and borrowing, according to the IMF.
The likely success in managing the economic fallout from the pandemic will not be replicated in emerging economies, however, highlighting the divergence in economic fortunes, the fund said.
Even with differing fortunes, the global economic outlook had improved notably since the fund’s previous forecasts at the start of this year, it said on Tuesday, revising upward its expectations for almost all countries.
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