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The International Monetary Fund (IMF) has said the global economic recovery from the COVID-19 crisis may slow this year as countries face higher commodity prices high debt and a different recovery between poor countries that lag behind rich countries.
IMF Managing Director Kristalina Gorgieva said issues ranging from rising food prices to inequalities in vaccine access. All of them affect the recovery of the global economy after covid.
“We are facing a global economic recovery that is still turbulent due to the coronavirus pandemic. including the impact of the epidemic As a result, we are unable to move forward properly,” Gorgia said.
The International Monetary Fund will release new economic growth forecasts next week, with Gorgia warning that the IMF expects a slight decline in growth this year. The previous forecast for economic growth was 6% in July. While the risks and obstacles to a balanced global recovery become more apparent. This includes broader disparities between rich and poor countries in their approach to recovery from the pandemic.
Gorgia expects economic output in economically advanced economies to return to pre-epidemic trends by 2022, but for most emerging and developing economies. The economy will take several years to recover. Such a slow recovery will make it harder to avoid long-term economic problems. including from unemployment, which has a huge impact on young people, women and informal workers.