US economy

IMF sees cost of COVID pandemic rising beyond $12.5 trillion estimate



© Reuters. FILE PHOTO: The International Monetary Fund logo is seen inside its headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas

WASHINGTON (Reuters) – The International Monetary Fund expects to raise its forecast that the COVID-19 pandemic will cost the global economy $12.5 trillion through 2024, the head of the global lender said on Thursday.

IMF Managing Director Kristalina Georgieva told an event hosted by the Financial Times that supply chain disruptions, inflation and tighter monetary policy were “throwing cold water on the recovery everywhere.”

She said huge gaps in COVID-19 vaccine rates and the overall widening divergence between rich and poor caused by the pandemic, along with learning losses and increased gender impacts, would cause more protests, tensions and insecurity.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.