Pandemic darkens nations' prospects

by The Manila Times

Oct 14, 2021 12:36 am

WASHINGTON: The ongoing hit from the Covid-19 pandemic and the failure to distribute vaccines worldwide is worsening the economic divide and darkening prospects for developing nations, the International Monetary Fund (IMF) said on Tuesday.

Global economic growth this year and next is expected to continue as the recovery solidifies broadly, but the overall figures mask large downgrades and ongoing struggles for some countries.

IMF chief economist Gita Gopinath speaks during an interview with AFP at the International Monetary Fund headquarters in Washington DC on October 12, 2021. Rising energy prices are weighing on households but the recent spike is unlikely to fuel a 1970s-style oil crisis and should retreat early next year, IMF chief economist Gita Gopinath told AFP Tuesday. PEDRO UGARTE / AFP

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