International Monetary Fund (IMF) Spokesperson Gerry Rice stated that the uncertainty regarding the global economy continues, and stated that countries should maintain strong financial and monetary support.
Rice said at a press conference held by video conferencing that the global economy is at a critical juncture.
Pointing out that countries are starting to emerge from the depths of the crisis, Rice said that the increase in COVID-19 cases shows how difficult and uncertain the recovery will be.
World Economic Outlook report will be updated on January 26
Stressing that there is still a great uncertainty over the economic outlook, Rice said, “So, it’s not the time to give up our efforts. Policy intervention is unique in many ways, if you look at fiscal and monetary policy efforts, it has been strong and should continue to be strong.” said.
Stating that the update of the World Economic Outlook report will be released on January 26th, Rice said that the report will include global economic forecasts that will reflect the latest developments.
In its latest report published in October 2020, the IMF stated that the contraction in the global economy will be less than predicted by the second quarter gross domestic product (GDP) data, which is better than the estimates in developed economies, and that the world economy will shrink by 4.4 percent in 2020 in 2021. reported that a growth of 5.2 percent is expected.
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