Global Economy 2021: Prospects and Challenges

Geoffrey Okamoto, First Deputy Managing Director, IMF
China Development Forum (session V venue I)

March 20, 2021

Dear Director-General Yu, thank you very much for inviting me to
speak at this year’s China Development Forum. The topic of the country’s
role in the “New Journey of Modernization” is an important one for the

Let me start with the outlook for the global economy and for China and
highlight key policy priorities for the period ahead.

Global Outlook

In January, we projected 2021 global growth at 5.5 percent, but prospects of a stronger recovery are emerging –
because of additional fiscal stimulus, especially in the U.S., and the
prospects of broader vaccination.

We will update our global forecasts in the new World Economic Outlook coming…

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