In the initial summary released July 17, the IMF staff predicted a 6.6 per cent contraction of US GDP this year compared to 2019, and 3.9 per cent growth in 2021, but Rosen called that ‘too pessimistic.’ ― Reuters pic
Mark Rosen, US representative to the fund's board, said he agrees the government has ample resources available to deal with the pandemic. “Our authorities disagree, however, that they should use available fiscal space to 'broadly remake' the US economy.” In the initial summary released July 17, the IMF staff predicted a 6.6 per cent contraction of American GDP this year compared to 2019, and 3.9 per cent growth in 2021, but Rosen called that “too pessimistic.”
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