Better-off countries should be concerned by the north-south divide caused by the pandemic
Given the ebbs and flows of the Covid-19 pandemic, the International Monetary Fund’s assessment of the state of the global economy has changed little over the past three months. Back in April the IMF said world growth would be a chunky 6% this year and it has left that forecast unchanged.
Beneath the surface, though, plenty has been going on. The outlook for advanced countries has improved while that for emerging market economies has deteriorated. A new north-south divide is opening up and that’s a big concern.
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