IMF warns economy recovery threatened by virus, inflation

By MARTIN CRUTSINGER
AP Economics Writer

WASHINGTON (AP) — The International Monetary Fund is warning of rising threats to a global recovery posed by the ongoing coronavirus pandemic and an outbreak of inflation. The lending agency says the Federal Reserve and other central banks must respond quickly if current inflation pressures prove not to be transitory. The IMF panel that sets policy for the 190-nation organization wrapped up its annual meeting Thursday with a joint statement that also expressed concerns about the wide divergence in vaccination rates between wealthy and poor countries. The group urged greater efforts by wealthy nations to help achieve a goal of having 40% of the population of all countries vaccinated by the end of this year and 70% by the middle of next year.