IMF chief predicts faster global recovery, warns fight isn’t over

IMF Managing Director Kristalina Georgieva said that the United States’ $1.9 trillion support package and rising confidence from increased vaccinations in many advanced economies were the primary reasons for the forecast upgrade.

The head of the 190-nation International Monetary Fund says prospects for global growth have brightened since January, helped by a $1.9 trillion United States rescue package. But she warns that uneven progress in fighting the coronavirus pandemic could jeopardise economic gains. IMF Managing Director Kristalina Georgieva said Tuesday that when the IMF releases its updated economic forecast next week, it will show the global economy growing at a faster pace than the 5.5 percent gain it projected at the start of the year. In remarks hosted by the Council on Foreign Relations, she said that the $1.9 trillion support package that US President Joe Biden signed into law on March 11 and rising confidence from increased vaccinations in many advanced economies were primary reasons for the forecast upgrade.