Bollardi

Now at $22 trillion, the projected cumulative output loss over 2020 to 2025, relative to the pre-pandemic projected levels remains substantial," Gopinath told reporters at a presentation of the World Economic Outlook (WEO).

"Much depends on the outcome of the race between the virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens," she added. "There remains tremendous uncertainty.''

"The projected growth recovery this year follows a severe collapse in 2020 that has had acute adverse impacts on women, youth, the poor, the informally employed, and those who work in contact-intensive sectors," the WEO report said.