IMF European Economic Outlook




14 Apr 2021


Washington, DC, United States



IMF European Economic Outlook
Washington, DC – Recent
1. B-ROLL: Exterior IMF

Washington, DC --- 13 April 2021
2. Wideshot news conference
3. SOUNDBITE: (English) Alfred Kammer, Director IMF European Department:
“Despite a halting start, vaccines are expected to become widely available in Europe this year and next. Accordingly, the project economic recovery to strengthen and Europe's GDP growth to rebound by 4.5 and 3.9 percent this year and next year, respectively. This will return Europe's output to its 2019 level by 2022, but leave it below the level that we had projected before the pandemic.”
4. Reporter online cutaway
5. SOUNDBITE: (English) Alfred Kammer, Director IMF European Department:
“Fiscal support should also be redeployed to accelerate the transformation of the economy, including through infrastructure investment in green and digital technologies, the next generation EU plan offers a critical help.”

6. Reporter cutaway
7. SOUNDBITE: (English) Alfred Kammer, Director IMF European Department:
“We have a game changer because with so many effective vaccines available and vaccines will be essential in controlling and ending this pandemic. We are actually predicting that this rebound is going to happen in the second part of the year. But again, it depends on are we going to roll out vaccines in time? What's the speed? The earlier the better, because the economic cost of lockdown and containment measures is large at this stage.”
8. Wideshot news conference
9. SOUNDBITE: (English) Alfred Kammer, Director IMF European Department:
“We have estimated so far the equity gap for enterprises in Europe to be two to three percent of GDP. We see a number of governments having already plans in place in order to close this equity gap together with the private sector. So that will be an important part of all of this.”
10. Wideshot news conference
11. SOUNDBITE: (English) Alfred Kammer, Director IMF European Department:
“Addressing climate change is of paramount importance and addressing it forcefully through government policy can be growth, growth enhancing. And I think that's what we are seeing in terms of the public investments which are being undertaken, which which are necessary to meet climate goals, but also then to modernize the economy and make it ready for for the future,”
12. Wideshot news conference
13. SOUNDBITE: (English) Alfred Kammer, Director IMF European Department:
“So there are some indications there which we need that which we need to watch. And there is a risk that we may see a repricing if the pandemic takes longer, if the recovery is not going to work out as we expect, if interest rates are increasing more rapidly than than than is being forecast. So these risks need to be monitored very closely. And but they are part of the crisis response. And the first priority is to maintain economic accommodative monetary policy to sustain the recovery,”
14. Wideshot news conference
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  • Brian Walker
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