The IMF has released new research suggesting three key changes to bring forward the end of the pandemic could deliver an economic windfall – and Australia would be among the biggest winners.
The renewed surge in COVID-19 infections is threatening to further divide the world economy between the rich and poor,potentially damaging overall global growth if the fresh outbreaks spread or if key sources of demand falter.
When the pandemic hit there was expected to be a wave of corporate failures. It hasn’t eventuated,but there are grave fears over what the future holds.
Australia is being urged to rebuild out of the coronavirus pandemic by cutting taxes for big business,sinking more money into the education of disadvantaged children and overhauling its approach to climate change.
Economists don’t know what the future holds. But that doesn’t mean their forecasts are worthless.
The world is in a monstrous fiscal bind. Countries can either keep spending beyond their means to repair the economic damage left by COVID-19;or they can try to bring their ballooning debts under control.
The IMF has sharply upgraded its forecasts for Australia,and the rest of the world,predicting a much stronger recovery from the coronavirus recession.
Saul Eslake,a favourite among economics journalists,is known for his long memory and ability to deliver an opinion on almost any topic.
Kristalina Georgieva says that while prospects for global growth have brightened,uneven progress in fighting the pandemic could jeopardise the economic gains.
The end of the pandemic is in view,but recovery from the most traumatic global economic catastrophe since the Great Depression will be far from equal.
It's been a strong year for Scott Morrison,but it's far too soon to call his success in the next election. In the meantime,2020 has been a year of shared accomplishments for Australians.