The report, released ahead of this week's virtual meetings of finance officials and leaders from the Group of 20 countries, underscored the uneven nature of the global recovery and warned the crisis would likely leave deep, unequal scars. The IMF last month forecast a 2020 global contraction of 4.4%, with the global economy expected to rebound to growth of 5.2% in 2021, but said the outlook for many emerging markets had worsened. But she said the most recent data for contact-intensive service industries pointed to a slowing momentum in economies where the pandemic was resurging. Georgieva also called on G20 leaders to commit to increased investment in green technologies and increases in carbon prices, estimating that doing so could boost global gross domestic product and create about 12 million jobs over a decade. Biden has also pledged to rejoin the 2015 Paris climate change agreement that Trump quit.

Source: bd News24 November 19, 2020 12:56 UTC