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Global economic recovery losing momentum as COVID-19 cases surge - IMF

The International Monetary Fund has warned that the global economic recovery may be losing momentum as coronavirus infections again surge.
 
Fund chief Kristalina Georgieva said more economic help is needed, and warned countries against withdrawing aid too soon.
 
Recent progress towards a vaccine has raised hopes of a return to normal.
 
But Ms Georgieva says despite those steps, the economic path ahead remains difficult and prone to setbacks.
 
In a report prepared for this weekend's upcoming summit of the G-20 nations, the IMF said except for China, economic activity next year is likely to remain below 2019 levels in most major economies.
 
The IMF has predicted the world economy will shrink by 4.4% this year and expects growth of 5.2% next year.
 


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