Anchor: Thanks to the rollout of COVID-19 vaccines around the world, the International Monetary Fund’s latest outlook report has more optimistic projections for this year. With the world economy set to grow by more than five percent, South Korea is projected to see growth of three-point-one percent, up point-two percentage points from October’s projections.
Kim Bum-soo has more on the IMF's latest World Economic Outlook report released on Tuesday.

Report: The IMF projected the global economy will grow five-point-five percent this year.

[Sound bite: Gita Gopinath - Chief Economist, International Monetary Fund]
"In our latest World Economic Outlook, we are projecting global growth for 2021 to be five-point-five percent, which is point-three percentage points above our previous forecast and then growth is expected to moderate to four-point-two percent in 2022." 

IMF Chief Economist Gita Gopinath on Tuesday introduced the latest World Economic Outlook, revealing the optimism on the back of the rollout of COVID-19 vaccines. 

[Sound bite: Gita Gopinath - Chief Economist, International Monetary Fund]
"If vaccines and therapies were to remain effective against the virus, we may be able to exit this crisis with less scarring than was feared and arrest the divergence in prospects that we now see across and within countries. However, that's not guaranteed unless we put in, have more determined policy action."  

The IMF said the South Korean economy will grow three-point-one percent this year. That's point-two percentage points higher than the IMF's October forecast. 

The United States is expected to expand at its strongest rate since 1984, reaching five-point-one percent. China's growth is forecast at eight-point-one percent.

While warning that the outlook can be offset by "extraordinary uncertainty," the IMF chief economist urged governments to accelerate the role of vaccinations to ride out the downturn. 

[Sound bite: Gita Gopinath - Chief Economist, International Monetary Fund]
"We're living in highly uncertain times. We are projecting the world would grow this year as opposed to a severe collapse last year. But there is uncertainty, a lot depends upon the outcome of this race between a mutating virus and vaccines and how much policy support can hold up. And what we are seeing is divergence in prospects across countries." 
"Firstly, all countries must accelerate the role of vaccinations. The international community must act quickly to make sure that vaccinations and the logistics of delivery of these vaccinations is available globally to address what is currently a deeply iniquitous distribution of access to vaccine across the world."   

If they stay on track, the IMF believes advanced nations will grow four-point-three percent, or up point-four percentage points, this year, while emerging and developing nations will stand to see growth of six-point-three percent, up point-three percentage points. 
Kim Bum-soo, KBS World Radio News.