Global recovery gap widens on unequal vaccine access, IMF says

Vaccine access has emerged as the principal fault line along which the global recovery splits into two blocs, says IMF

The International Monetary Fund maintained its outlook for the biggest rebound in global economic growth in four decades while changing underlying regional forecasts, with unequal access to vaccines further widening the recovery gap between advanced and developing economies.
 

World output is still expected to grow 6% in 2021 following last year’s 3.2% drop, the fund said in an updated World Economic Outlook released Tuesday. It reduced the forecast for emerging-market expansion to 6.3% compared with the 6.7% increase projected in April, and raised the estimate for advanced economies by 0.5 percentage point to 5.6%.

The U.K. got the biggest bump