IMF urges countries to continue strong fiscal and monetary support

In October, the Fund forecast a 4.4% global GDP contraction for 2020, followed by a rebound to growth of 5.2% for 2021.

The International Monetary Fund is urging countries to continue strong fiscal and monetary efforts to support their economies given continued uncertainty about the risks posed by a resurgence in COVID-19 cases and new variants.

“The global economy is at a critical juncture,” IMF spokesman Gerry Rice told reporters in an online briefing. “There remains a great deal of uncertainty … and the prospect for a still very difficult period ahead with infection surges and people continuing to suffer.”

Rice said the IMF would release an updated global economic forecast on Jan. 26 that would reflect recent developments, including development and distribution of