At the end of January, border restrictions were tightened in the United States, France, Israel and Sweden, among others, in order to contain the new variants of the virus. Scientist claim that large scale vaccinations are the only way to end the pandemic. However, in certain countries, the roll-out seems to be slower than originally planned.
The International Monetary Fund (IMF) updated the World Economic Outlook and it highlighted the fact that recent vaccine approvals have raised hopes of a turnaround in the pandemic. However, the appearance of new variants of the COVID-19 as well as new waves of the pandemic, pose concerns for the outlook. Under this uncertain scenario, the global economy is projected to grow 5.5% in 2021 (up 0.3% compared to the previous forecast) and 4.2% in 2022. Such predictions reflect expectations of a vaccine-powered strengthening of activity later in 2020 and additional policy support in a few large economies.
The World Trade Organization (WTO) Deputy Director-General Alan Wolff has urged WTO ministers to make 2021 “a year of substantial accomplishments” by taking action on health, sustainability issues, and other initiatives. He also emphasized that cooperation on trade can accelerate access to vaccines, and called for immediate action on trade and health.
The International Monetary Fund (IMF) updated the World Economic Outlook and it highlighted the fact that recent vaccine approvals have raised hopes of a turnaround in the pandemic. However, the appearance of new variants of the COVID-19 as well as new waves of the pandemic, pose concerns for the outlook. Under this uncertain scenario, the global economy is projected to grow 5.5% in 2021 (up 0.3% compared to the previous forecast) and 4.2% in 2022. Such predictions reflect expectations of a vaccine-powered strengthening of activity later in 2020 and additional policy support in a few large economies.
The World Trade Organization (WTO) Deputy Director-General Alan Wolff has urged WTO ministers to make 2021 “a year of substantial accomplishments” by taking action on health, sustainability issues, and other initiatives. He also emphasized that cooperation on trade can accelerate access to vaccines, and called for immediate action on trade and health.
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