IMF upgrades outlook for wealthy countries but pandemic risks remain

Emerging markets face difficulties with access to vaccines

IMF chief economist Gita Gopinath. Photo: Jason Alden/Bloomberg

David Lawder

The International Monetary Fund maintained its 6pc global growth forecast for 2021, upgrading its outlook for wealthy economies but cutting estimates for a number of developing countries struggling with surging Covid-19 infections.

The divergence is based largely on better access to vaccines and continued fiscal support in advanced economies, while emerging markets face difficulties on both fronts, the IMF said in an update to its World Economic Outlook.