IMF Warns: World to Lose $22 Trillion until 2025 Due to Coronavirus

The International Monetary Fund (IMF) has warned that the world is about to lose $ 22 trillion in global GDP between 2020 and 2025, on the background of the Corona pandemic.

Today, Tuesday, the IMF raised its forecast for global economic growth in 2021 and said that the recession that sparked the Coronavirus in 2020 will be about a full percentage point less than previous estimates

The world's economy is expected to perform better as the standing year drags on.

The fund said that the approval of several vaccines and the initiation of vaccination by some countries in December reinforce hopes for the end of the pandemic, which infected nearly 100 million and killed more than 2.1 million worldwide.

But it warned of an "exceptional uncertainty" the global economy is still facing, saying that the resurgence of COVID-19 waves and the emergence of new strains carry risks and that global activity will remain below pre-COVID-19 expectations issued about a year ago.

About 90 million people are likely to descend from the extreme poverty line in 2020 and 2021, as the pandemic erases the progress made in reducing poverty over the past two decades. Large numbers continue to suffer from direct or underemployment in many countries, including the United States.

The fund predicted in its latest global economic outlook a global contraction of 3.5 percent in 2020,

The experts work for the fund expect that the global economy will grow by 5.5 percent in 2021 due to faster growth associated with vaccine use later in the year and more support measures in the United States, Japan, and some other large economies.

It said the US economy - the largest in the world - is expected to grow by 5.1 percent in 2021.

China's economy is expected to grow by 8.1 percent in 2021 and 5.6 percent in 2022, while India's projected growth is 11.5 percent in 2021, 2.7 percentage points higher than the October estimate after a stronger-than-expected recovery in 2020.

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