*The IMF’s latest update to its World Economic Outlook, released this week, revises up 2021 GDP growth forecasts for key developed economies but revises down those for many developing countries. “Vaccine access has emerged as the principal faultline along which the global recovery splits into two blocs: those that can look forward to further normalization of activity later this year (almost all advanced economies) and those that will still face resurgent infections and rising Covid death tolls,” the IMF says.
*Forecast global economic growth is left unchanged at 6%. But whilst developed countries are revised up versus the IMF’s previous forecasts in April, the US by 0.6 percentage points to 7.0%, developing countries are revised down (see charts). (CONTINUED - 202 WORDS)