Western economies recovering faster than expected from Covid, says IMF

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Growth forecast upgraded amid US and UK vaccine programmes and stimulus packages

Stronger recoveries from the Covid-19 pandemic in the US, the UK and other rich western countries will result in faster than expected growth for the global economy this year, the International Monetary Fund has predicted.

The Washington-based IMF’s half-yearly World Economic Outlook (WEO) said successful vaccine programmes, businesses adapting to the challenges of lockdown and Joe Biden’s $1.9tn (£1.4tn) stimulus package had been key factors in the upgrade.

Related: IMF calls for tax hikes on wealthy to reduce income gap

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