Nations Begin to Shape Post-Covid Global Economy Amid Diverging Fortunes

By Yuka Hayashi9 days ago

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WASHINGTONThe worlds top economic officials plan to confront at a virtual meeting this week the prospect of new Covid-19 variants and shutdowns undermining the global rebound, as well as consider measures to prevent lasting damage to the poorest and most vulnerable populations.

The international economy is recovering faster than many economists projected just weeks ago, powered by growth in the U.S. and China and by the accelerating pace of Covid-19 vaccinations in many rich countries. Yet a new wave of lockdownsfrom Europe to Canadais threatening that growth, as many low- and middle-income nations with limited financial resources lag behind.

The window of opportunity is closing fast, said Kristalina Georgieva, managing director of the International Monetary Fund, co-host with the World Bank of the gathering, in previewing the issues facing central bankers and finance ministers. The longer it takes to speed up vaccine production and rollout, the harder it will be to achieve these gains, she said.

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