THE IMF’S newest forecasts, launched on October 13th, spell out simply how lengthy the financial hurt from covid-19 will final. America’s gdp will return to its 2019 degree solely in 2022; Italy’s, in 2025. The fund reckons that in lots of locations output will keep effectively beneath its pre-pandemic pattern, as labour and capital are solely slowly reallocated from shrinking industries in direction of thriving ones. Final October the fund anticipated India’s financial system to develop by greater than 40% by 2024; now it expects half that.
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This text appeared within the Finance & economics part of the print version beneath the headline “The IMF’s new forecasts”