WASHINGTON (Pakistan Point News / Sputnik - 27th July, 2021) The International Monetary Fund (IMF) warned on Tuesday that the slower-than-expected pace of coronavirus vaccinations may pose a risk to global economic growth.
"Risks around the global baseline are to the downside. Slower-than-anticipated vaccine rollout would allow the virus to mutate further," the IMF said in its updated World Economic Outlook.
The IMF said financial conditions could tighten rapidly if the trend persists and inflation expectations may increase quicker than anticipated.
"A double hit to emerging market and developing economies from worsening pandemic dynamics and tighter external financial conditions would severely set back their recovery and drag global growth below this outlook's baseline," the report said.
