The agency named the United States and China as the leaders of the “post-pandemic” world. Washington will be the engine of recovery through trillions of dollars spent on fiscal stimulus. Beijing’s success is due to the effective fight against the pandemic at home.
The publication notes that the growth of the world economy will be a record since the 1960s and will be 6.9%. However, such recovery rates will not be available in all countries due to different vaccination rates and drug availability. According to experts of the agency, the laggards will be developing countries and the European Union, especially France and Italy.
“Vaccines are not yet available to everyone and not everywhere. Too many people continue to face job losses and rising poverty. Too many countries are lagging,” the agency quotes the head of the IMF, Kristalina Georgieva.
Experts expect that some countries will need several years to return to the level before COVID. States that focus on tourism in the economy will be particularly hard hit.
In the first quarter of this year, the global economy grew by 1.3%. The United States is experiencing strong growth, while France, Germany, Italy, the United Kingdom, and Japan are experiencing a decline in GDP. Russia, Brazil, and India are still lagging behind China in terms of growth.