By contrast, in many other countries growth continues to worsen, hampered by low access to vaccines and constrained policy response, especially in some low-income nations.
The IMF, WHO, etc., would like trade hurdles to vaccine inputs removed and nations with excess doses to share at least 1 billion doses with those that need them.
The IMF said on Tuesday that it expects the global economy to expand 6 per cent this year - a dramatic bounce-back from the 3.2 per cent contraction in the pandemic year of 2020.
The estimated loss has been caused by the pandemic's direct impact on tourism and its ripple effect on other sectors closely linked to it.
Tthe World Bank said that at the same time many emerging markets and developing economies continue to struggle with the COVID-19 pandemic and its aftermath.
But the underlying point is that economic growth—or the growth recovery process—is contingent on containing the spread of the disease.
Australia's central bank chief Wednesday slammed Donald Trump's decision to levy steel tariffs as 'bad policy' and warned of 'a very big shock' to the global economy if it sparks retaliation.
The Reserve Bank of India kept its repo rate at 6.25 percent for a third consecutive policy meeting on Thursday.