IMF to boost growth forecast, but urges caution

The International Monetary Fund is increasingly optimistic about the global economy as the fight against COVID-19 ramps up, but its head is warning countries not to get complacent.

Kristalina Georgieva said on Tuesday that the IMF plans to boost its global growth forecast for 2021 from the 5.5 percent it touted in January.

She also underscored that the US and Chinese economies will recover to pre-pandemic levels by the end of the year.

The IMF Managing Director said, "The global economy is on a firmer footing. But there is danger as well. Economic fortunes are diverging. Vaccines are not yet available to everyone and everywhere. We must not let our guard down."

Georgieva highlighted emerging economies where there have been delays distributing vaccines.

She also said risks remain in Europe and South America, where new variants of the coronavirus are spreading.