Accelerating the Economic Recovery

KOMPAS/FAJAR RAMADHAN

A Prasetyantoko.

In its latest World Economic Outlook, published in October 2020, the International Monetary Fund (IMF) revised upward the global economic growth estimate from minus 5.2 percent to minus 4.4 percent. The global economy has shown some improvement from July projections, but the recovery remains long and complicated. The projection appears in the IMF’s quarterly report “A Long and Difficult Ascent”.

The encouraging global growth projection was, however, immediately hit by growing concerns over the second COVID-19 attack in Europe. The region\'s economy will slow down again due to the implementation of the quarantine.