Vaccines to the Rescue
World economic activity slowed sharply toward the end of last year in many regions due to a resurgence of the coronavirus pandemic and the reimposition of lockdown restrictions. However, the rollout of vaccines in many countries and massive fiscal and monetary stimulus, especially in the U.S., should result in a gain in world GDP of this year and 2022. This year, the recovery will be uneven, as most countries in the Asia-Pacific region have done a better job of controlling the COVID-19 virus than have those in other parts of the world. And Latin America will lag other regions due to a lack of fiscal capacity in several of its countries.
Contents of the Spring 2021 edition include:
- Countries recovering at their own speed
- U.S. outlook: Surge in growth led by vaccines and ongoing government stimulus
- Poor response to COVID-19 hurting Latin America’s recovery
- Bureaucratic delays hurt outlook for the EU
- Superior handling of COVID-19 boosts economic prospects in Asia-Pacific