IMF head: Global economy at 1945 pivot point as Covid recovery diverges

The IMF will raise its January forecasts for global economic growth of 5.5% in 2021 and 4.2% in 2022.

The IMF will raise its forecast for global economic growth in 2021 and 2022 after last year's 3.5% contraction, but financial conditions remain highly uncertain, said IMF managing director Kristalina Georgieva. 

Ms Georgieva said the global economy was on firmer footing after governments spent some $16 trn (€13.6trn) on fiscal measures to contain the Covid-19 pandemic and mitigate its economic impact. However, developments are diverging dangerously across regions and countries, and even within nations.