Fenerbahce Beko beat Monaco 95-91 in overtime, take 1-0 lead in EuroLeague playoffs
Liverpool lose at Everton in derby, hurting their English Premier League title hopes
Russia vetoes resolution on weapons of mass destruction in outer space at UN Security Council
US confirms secret deliveries of long-range missiles to Ukraine
Greece, Greek Cypriot administration not fully complying with EU rules on fraud: EU Commission
Greece to postpone some arms purchases beyond 2028 owing to budget constraints: Report
Zelenskyy claims Russia seeking to 'disrupt' Ukraine peace summit in Switzerland
Kazakhstan, UK sign strategic partnership, cooperation agreement
Global immunization saved 154M lives over past 50 years: WHO
3 injured with stab wounds at Welsh school, 1 arrested

Euro area inflation projected to remain weak: IMF

Ongoing wave of infections highlights continuing risk that pandemic poses to recovery, institution says

Euro area inflation projected to remain weak: IMF
2021-12-07 00:27:06

ANKARA

Inflation in the euro area is projected to remain weak despite recent price increases, the International Monetary Fund (IMF) said Monday. 

The international financial institution said in a statement that policy coordination remains key in the post-pandemic economic recovery phase.

"Fiscal, monetary and financial sector polices have worked well together to dampen the effect of the [coronavirus] pandemic on the real economy," it said in a statement.

"Fiscal policy should remain supportive but become increasingly targeted as the recovery continues.”

The IMF said the fiscal framework should be reformed to make it more efficient at preventing debt distress while allowing adequate room for macroeconomic stabilization.

"On the downside, the ongoing wave of infections and renewed concerns about newer and more transmissible COVID-19 variants highlights the continuing risk that the pandemic poses to recovery, especially if it were to be accompanied by decreased vaccine effectiveness or incomplete vaccination coverage," it added.