29 July 2021
Long-term economic outlook, IMF warns of global chaos The latest IMF report states Measures to control the spread of COVID-19 This will increase the number of poor people and will cause more people to protest because of stomach problems.
The International Monetary Fund (IMF) has warned of the spread of COVID-19. that came back violent again are directly affecting the economic recovery of many countries. While measures to control the spread of COVID-19 make more people More people came out to protest because of stomach problems. At the same time, political tensions have increased.
The IMF warned on Tuesday (Jul 27) that global economic recovery continued, but there were still huge disparities between advanced economies. Many emerging markets and developing countries due to unequal access to the COVID-19 vaccine and lack of budget support
The IMF divides the world’s countries into two groups, the first of which is expected to resume normal activities later this year. which are almost all rich countries And another group is countries that still have to fight the epidemic of Covid-19.
The latest IMF warning report It happened after about mid-July. Mass protests erupted in Cuba. which is another country that relies mainly on tourism revenue but had to face the stagnation caused by the epidemic crisis until severely affected the economic condition and the life of the people
Tens of thousands of Cubans marched in several cities to protest. to express dissatisfaction with government administration, especially the COVID-19 outbreak And the economic measures adopted by the government have made it difficult for Cubans. causing dissatisfaction accumulated leading to protests
Riots and looting of shops have also occurred in several South African countries. This was caused by the dissatisfaction that the government did not rush to solve the problems of the people’s stomachs. Including the hardships and inequality caused by the economy that has been heavily affected by the Covid-19 epidemic that has resulted in at least dozens of deaths.
The IMF report said inequalities in access to vaccines are a key driver that will differentiate between developed and less developed economies.
“Countries with the spread of the mutant virus and the number of people infected with COVID-19 may not be able to turn around the economy as planned. And this will cause economic losses of $4.5 trillion in global gross domestic product (GDP) by 2025,” said IMF chief economist Gita Gopinath.
from various risk factors that arise The IMF has therefore downgraded its economic growth forecasts for many developed countries. especially the United States After these countries began to open their business sector again.
The World Economic Outlook (WEO) has forecast the global economy to grow at 6% this year, the same as the April forecast. but increased by a leap from -3.2% in the same period last year.
The IMF forecast the U.S. economy would grow 7%, up from its April forecast of 6.4 percent, with forecasts for the eurozone economy to grow 4.6 percent this year after contracting. 6.5% last year, while it was predicted that The Chinese and Indian economies will grow at 8.1% and 9.5% respectively.
It is worth noting that In the eurozone, where the IMF is optimistic about its economic expansion, the IMF has raised its forecast for British economic growth this year to 7%, on par with the United States. or an increase of 1.7% from the April forecast level. Because the UK has a high rate of vaccination against COVID-19. At a very high level compared to many countries around the world.
Britain has vaccinated over 70% of the country’s adult population as the number of people infected with COVID-19 rises. Delta species begin to slow down. Until the UK was able to repeal social distancing rules on 19 July.
The IMF also commended Britain and Canada for its plans to curb financial support related to COVID-19 in the medium term, with Britain scheduled to end its wage subsidy program during the period of people’s absences. end of Sept.
Asia as a whole The IMF has cut growth from 8.6 percent in April. to grow at 7.5% this month, reflecting that Most countries in Asia are still struggling to provide vaccines to slow the spread of the devastating delta coronavirus in many countries.
The five Southeast Asian countries, Indonesia, Malaysia, the Philippines, Vietnam and Thailand, are forecasting growth at an average rate of 4.3 percent, down 0.6 percent from a forecast three months ago.