Last week, the IMF unveiled its 2nd World Economic Outlook (WEO). The IMO comes out with the report twice every year — April and October — the and also provides regular “updates” to it on other occasions. The WEO reports are significant because they are based on a wide set of assumptions about a host of parameters — such as the international price of crude oil — and set the benchmark for all economies to compare one another with.
What were the main takeaways from the WEO in October?
The central message was that the global economic recovery momentum had weakened a tad, thanks largely to the pandemic-induced supply disruptions. But more than just the marginal headline numbers for global growth, it is the increasing inequality among nations that IMF was most concerned about.
“The dangerous divergence in economic prospects across countries remains a major concern. Aggregate output for the advanced economy group is expected to regain its…