IMF / World Economic Outlook July 2021 Update

ID

590503

SHOOT DATE

27 Jul 2021

SHOOT LOCATION

WASHINGTON DC, United States

PRODUCTION COMPANY

IMF

DESCRIPTION
IMF / World Economic Outlook July 2021 Update
SHOTLIST
RECENT - WASHINGTON DC
1. Wide shot, IMF building exterior
2. Wide shot, IMF logo on building

July 27, 2021, WASHINGTON DC

3. SOUNDBITE (English) Gita Gopinath, IMF Chief Economist

“Global growth is projected to be 6 percent this year, which is unchanged from our April forecast. However, the composition has changed. We are upgrading growth for advanced economies, and that's almost entirely offset by a downgrade for emerging markets and developing economies. Next year, we have upgraded growth to 4.9 percent, and that's mainly driven by anticipated further fiscal support in the US,”

4. Wide shot, Gita Gopinath speaking
5. SOUNDBITE (English) Gita Gopinath, IMF Chief Economist

“One of the major fault lines remains the pandemic, if we see newer virus variants, which are far more transmissible, like the Delta variant that we're seeing right now. In a world where vaccine access remains highly inequitous, that will have a big hit to the economic recovery. Another major risk and fault line is with respect to financial conditions. If inflation in, for instance, the US were to be more persistent than we expected, that could lead to a faster tightening in monetary policy and that could then again disrupt financial market conditions. So, these are some of the major risks we are concerned about,”

6. Wide shot, Gita Gopinath speaking
7. SOUNDBITE (English) Gita Gopinath, IMF Chief Economist
“First and foremost, the world needs to be more fully vaccinated, this requires multilateral action to make sure that sufficient vaccine doses are made available to developing countries. Individual governments will need to tailor their policy support to the stage of the crisis. They will have to do this by nesting their fiscal policies, incredible medium-term fiscal frameworks. Now, in the case of monetary policy, central banks should look through what are transitory inflation movements. However, it's very important that they remain prepared and strongly communicate what they will do if it turns out that inflation goes up even more higher and is much more persistent than expected.”

RECENT - WASHINGTON DC
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