World Bank president forecasts "subdued" economic recovery for 2021

And that's if vaccine distribution stays on track, David Malpass says.
"If you only come back 4% this year [in growth for the world economy], you're not back to where you were, even at the end of 2021," World Bank President David Malpass said.
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Which countries' economies are doing best? Those that beat the virus.

Dec 14, 2020
As central bankers around the world meet to close out the year, some face stronger economic headwinds than others.
This year, the U.S. has added instability to the global economy, in contrast to its historical role of bolstering recovery.
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Even with a vaccine, global economic recovery will be starkly uneven — OECD

Dec 1, 2020
OECD chief economist Laurence Boone says governments must double down on providing support to avoid "scarring effects."
OECD chief economist Laurence Boone says children whose schooling has been affected by COVID-19 are among those likely to be "scarred" long-term.
Johannes Eisele/AFP via Getty Images

Top central bankers: Economy needs help despite vaccine news

Nov 13, 2020
U.S. Federal Reserve Chair Jerome Powell said Congress “may need to do more” to cushion the blow from the pandemic.
Chairman of the Federal Reserve Jerome Powell testifies during the Senate's Committee on Banking, Housing and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Sept. 24, 2020, in Washington.
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Universal basic income, blockchain and more: Reimagining the next decade

"If people don't have money in their pockets, then this type of economy that we have can't work," says Wharton professor Mauro Guillén.
Mauro Guillén says that the future uses of blockchain, the underlying technology for cryptocurrencies, include incentivizing "prosocial behavior" like energy conservation.
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If the U.S. economy gets sick, other countries could catch 'pneumonia'

Jul 23, 2020
The U.S. health crisis isn't just depressing the national economy. The global economy could feel it, too.
A "Detour" sign outside the offices of the International Monetary Fund in Washington, D.C. The economic downturn in the United States is likely to hurt the global economy, says economist Susan M. Collins of the University of Michigan.
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The IMF predicts the global economy will shrink by 5% this year

Jun 24, 2020
That means fewer jobs and more debt. And the U.S. may be in for even worse.
A man passes graffiti about the coronavirus in Beirut, Lebanon. The IMF is predicting a world-wide downturn of 5% as people spend less money while stuck at home due to COVID-19.
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"A moment of reckoning for the United States at home and abroad"

Jun 9, 2020
The country's coalition-building power overseas has weakened as it focuses on crises at home, researcher Torrey Taussig says.
Credit to Metamorworks, courtesy of Keystone/Getty Images

IMF says global economy will shrink 3% this year because of COVID-19

Apr 14, 2020
IMF economists talked to epidemiologists and tried to estimate how much COVID-19 restrictions will affect the economy.
Forecasts could change dramatically based on policy decisions made around the global COVID-19 pandemic.
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