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Recovery prospects are uncertain, especially in poorer countries - IMF - Metro US

Recovery prospects are uncertain, especially in poorer countries – IMF

FILE PHOTO: The IMF logo is seen outside the headquarters building in Washington

WASHINGTON/GENEVA (Reuters) – Prospects for a recovery from the COVID-induced economic slowdown are uncertain and uneven, with some emerging economies and almost all low-income countries at risk of lower growth, the IMF’s managing director said on Tuesday.

“It is the time to double down so trade can be again the engine of growth and opportunities it has been for so, so long,” Kristalina Georgieva said at an online event organised by the World Trade Organization. Trade volumes could grow 8.5% this year and 6.5% next year, she added.

“A rebound in trade, if managed well, can lift growth and living standards in the developing world,” Georgieva said.

(Reporting by David Lawder, Emma Farge and Stephanie Nebehay)

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