Economic system on the trail to restoration, says IMF MD

Washington, April 8

A day after the International Monetary Fund forecast a global growth of 6 per cent for this year, IMF managing director Christine Georgieva said after the worst global recession since the second World War, the recovery was under way.

The outlook, she asserted, was brighter because millions of people were benefiting from vaccinations and because of further policy support, especially in the US.

Georgieva said this was adding to the exceptional and coordinated actions taken over the past year. “Without them, without those fiscal and monetary measures, the global contraction last year would have been three times worse. This could have been another great depression,” she noted.

“We have a good news that there is light at the end of the tunnel,” Georgieva told reporters. — PTI

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