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4/8, 4:38 PM (Source: TeleTrader)
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IMFC communique: Global economy recovering faster than expected

The International Monetary and Financial Committee (IMFC) noted in its statement released on Thursday that the global economy is recovering from the coronavirus crisis faster than originally expected, majorly due to an "unprecedented" policy response and rapid progress in the COVID-19 vaccine development.

However, the committee said that the prospects for recovery remain "highly uncertain and uneven" across the globe due to varying policy space and uneven access to coronavirus vaccines. Furthermore, it stated that the ongoing crisis might extend poverty and inequalities, while on the other hand, challenges surrounding climate change are becoming more pressing.

"In line with the Paris Agreement, we commit strongly to addressing climate change through measures to accelerate the transitions to greener societies and job-rich economies," the official press release noted, adding that the IMFC "will continue to collaborate to unlock the potential of the digital economy, and accelerate efforts toward a modern and globally fair international tax system."

Breaking the News / ND