Major US stimulus would boost US, global economies – IMF official

Another major United States stimulus package would drive a big jump in US growth but also would help boost the pandemic-ravaged global economy, the International Monetary Fund 's chief economist told Agence France-Presse on Tuesday, October 13.

But with the virus still raging, the recovery is slow as sectors that rely on close contact, such as entertainment, hospitality, and tourism, continue to struggle.But a big jump in the American economy would bring the US back to pre-crisis levels in 2021 rather than 2022, which would have"significant benefits for the world" as well, especially for US neighbors Canada and Mexico.

The total of nearly $3 trillion in government support injected into the US economy in the early weeks of the COVID-19 pandemic kept the recession from being as severe, and the IMF upgraded its forecast for this year to show a decline of 4.3%. , but cautioned that"the longer this crisis continues, it's going to be harder for governments to provide income support."

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