IMF Sees 6% World Growth, Warns Developing Nations Falling Behind

Mohammad Ali (@ChaudhryMAli88) Published July 27, 2021 | 06:20 PM

Washington, (UrduPoint / Pakistan Point News - 27th Jul, 2021 ) :The global economy will expand by six percent this year, but disparities between nations are widening as advanced economies accelerate while developing countries fall behind, the IMF said Tuesday.

While the forecast for global growth is unchanged from the previous estimate in April, the United States is projected to see faster seven percent growth thanks to massive government spending and widespread Covid-19 vaccinations, while the IMF slashed the forecast for India, which is facing a resurgence of infections.

The recent inflation spike should prove temporary, but in its updated World Economic Outlook, the IMF cautioned that price increases could become "persistent."