Global economy recovering from pandemic; higher rates would hurt -IMF steering committee By Reuters
By Andrea Shalal and David Lawder WASHINGTON (Reuters) - The steering committee of the International Monetary Fund said the global economy is recovering faster than expected from the COVID-19 crisis, but warned that a spike in interest rates could be especially painful for emerging economies. In its communique, the International Monetary and Financial Committee stressed the importance of accelerating distribution of COVID-19 vaccines around the world, and pledged to strengthen international cooperation. "Elevated financial vulnerabilities could pose risks, should global financial conditions tighten swiftly," the 24-member committee said. "The crisis may cause extended scarring and...
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