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The semi-annual report of the World Bank predicts a world economic growth of 5.6% for this 2021. A level of 4% higher than expected in January.
The detail is that this growth will be uneven, as the strong impulse will be led by the United States and the Asian giant, China; both in full recovery after the crisis unleashed by the Coronavirus, which will possibly reveal a weaker expansion of emerging economies.
In this sense, the president of the World Bank, David Malpass, applauds the signs of global recovery, however, he remarks that the pandemic continues to impose poverty and inequality in developing countries.
“The resumption of growth in the short term cannot compensate for the poverty that the pandemic has inflicted the poorest and its disproportionate impact on vulnerable groups. ”
For m countries The poor will take longer to recover so immediate action is needed to help them. However, their recovery will depend on progress in the vaccination process, the lifting of restrictions and an increase in the price of raw materials, according to the WB report.
For example, for Latin America a 5.2% increase is expected, according to the World Bank . Six months ago, the forecasts for Latin America were 3.2%.
On the other hand, The United States foresees an economic expansion of 6.8% for this 2021, after the 3.5% contraction in 2020, year of the pandemic.
The Asian giant will have an economic growth of 8.5%, while the European Union will grow, according to forecasts, by 4.2%.
This end of This week the Group of 7 Summit is taking place in the United Kingdom, where these issues of economic recovery will be addressed above all, after the crisis caused by the COVID pandemic – 19 on 2020.
In this sense , the management of Joe Biden is scheduled to announce the purchase of 500 m millions of doses of vaccines from Pfizer Pharmaceutical against COVID – 19 and will distribute them between low-income countries around the world, under the Covax program.
The United States plays an important role in the leadership of promoting vaccination in the world. Therefore, it is expected that reaching the objective and above all helping those poorest nations that do not have the resources for a vaccination plan, is the main objective of the G7 Summit.
