The IMF has already started to revise downwards its 2021 growth projections: for the US (from 7 to 6%), Asia (from 7.6 to 6.5%), the Eurozone (from 5.4 to 5%), and the world (from 6 to 5.9%). As seen in our article on the central banks, the Western financial administration is bent on continuing unconventional monetary policies for as long as possible, if not definitively endorsing them. After declaring the contrary in June, the IMF is encouraging France, for example, to keep the public purse strings untied to support the economy until 2023. All this despite the fact that inflation is increasingly presented as sustainable (or at least to be taken into account throughout next year), driven in particular by the high prices of energy, raw materials and products in general, blocked off by saturated ports and lacking personnel who risk not returning as long as wages remain at the bottom.
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