IMF cuts global economic forecast as pandemic ‘hobbles’ growth

Fund chief Kristalina Georgieva says most serious obstacle to full recovery remains Covid vaccine divide between rich and poor states

The head of the International Monetary Fund has warned the world economy remains hobbled" by the Covid-19 pandemic as she revealed her organisation has revised down its forecast for global growth this year.

Kristalina Georgieva, the IMF's managing director, said the most serious obstacle to a full recovery was the vaccine divide between rich and poor nations and warned the global economy could suffer a cumulative $5.3tn loss over the next five years unless it was closed.