IMF Acknowledges Growth in Pakistan’s Economic Activity
In recognition of Pakistan’s better economic activity, the International Monetary Fund (IMF) maintained its prediction for world growth at 6% for the current year and 4.9% for the following year.
Because to widespread Delta variation and the resulting weak economic activity, the IMF reduced its prediction for India’s current-year growth downward by three percentage points in its World Economic Outlook (WEO) update.
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The United States is expected to grow at a faster rate of 7% thanks to significant government spending and widespread Covid-19 vaccinations, while the IMF slashed the forecast for India due to a resurgence of infections, even though the global growth forecast is unchanged from the previous estimate in April.
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The $50 billion plan being promoted by the IMF offers a “realistic cost to stop the pandemic” by delivering vaccines and taking care of urgent needs in lower-income nations. Another factor hindering the global economy is rising costs, which presents a problem for policymakers.
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